Baker Hughes (NASDAQ:BKR) Stake Lessened by Gotham Asset Management LLC

Gotham Asset Management LLC trimmed its stake in shares of Baker Hughes (NASDAQ:BKR) by 37.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,736 shares of the company’s stock after selling 66,467 shares during the quarter. Gotham Asset Management LLC’s holdings in Baker Hughes were worth $4,624,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new position in Baker Hughes in the fourth quarter worth $640,000. Burney Co. grew its position in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after buying an additional 105,349 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock valued at $1,004,212,000 after buying an additional 465,832 shares during the last quarter. Artemis Investment Management LLP raised its stake in Baker Hughes by 29.4% during the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after acquiring an additional 239,773 shares during the period. Finally, Czech National Bank lifted its holdings in Baker Hughes by 6.0% in the fourth quarter. Czech National Bank now owns 214,549 shares of the company’s stock worth $8,801,000 after acquiring an additional 12,178 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Trading Down 0.9%

Baker Hughes stock opened at $37.84 on Thursday. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock has a market capitalization of $37.49 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The firm has a 50 day simple moving average of $39.45 and a 200-day simple moving average of $42.01.

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

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.43%. Baker Hughes’s dividend payout ratio is currently 31.40%.

Analyst Ratings Changes

Several research firms have recently commented on BKR. The Goldman Sachs Group upped their target price on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. 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. Benchmark reiterated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. TD Securities reduced their price target on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, TD Cowen dropped their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.11.

Baker Hughes Profile

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.