Baker Hughes (NASDAQ:BKR) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in shares of Baker Hughes (NASDAQ:BKR) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 724,751 shares of the company’s stock after selling 34,037 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Baker Hughes were worth $29,729,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BKR. Norges Bank acquired a new stake in shares of Baker Hughes during the 4th quarter valued at approximately $829,092,000. Raymond James Financial Inc. acquired a new stake in shares of Baker Hughes during the 4th quarter valued at approximately $291,289,000. Neuberger Berman Group LLC raised its position in shares of Baker Hughes by 2,527.6% during the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock valued at $136,158,000 after acquiring an additional 3,193,089 shares in the last quarter. Congress Asset Management Co. acquired a new stake in shares of Baker Hughes during the 4th quarter valued at approximately $107,155,000. Finally, FMR LLC raised its position in shares of Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company’s stock valued at $644,098,000 after acquiring an additional 1,744,225 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BKR has been the topic of several research reports. TD Securities dropped their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Piper Sandler lowered their price objective on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus set a $50.00 price objective on Baker Hughes and gave the stock a “buy” rating in a research note on Thursday, April 24th. Wells Fargo & Company upped their price objective on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group upped their price objective on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $49.11.

Baker Hughes Trading Up 1.5%

NASDAQ:BKR opened at $38.18 on Wednesday. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The stock has a market cap of $37.83 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.00 and a beta of 0.96. The business has a fifty day moving average of $39.56 and a 200-day moving average of $42.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Equities analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.41%. Baker Hughes’s payout ratio is 31.40%.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.