Baker Hughes (NASDAQ:BKR) Position Trimmed by Gotham Asset Management LLC

Gotham Asset Management LLC decreased its holdings in Baker Hughes (NASDAQ:BKR) by 37.1% during the 4th quarter, HoldingsChannel reports. The institutional investor 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 reporting period.

Several other institutional investors also recently modified their holdings of BKR. Norges Bank acquired a new stake in Baker Hughes during the 4th quarter valued at $829,092,000. Raymond James Financial Inc. acquired a new position in Baker Hughes during the fourth quarter valued at $291,289,000. Neuberger Berman Group LLC lifted its stake in Baker Hughes by 2,527.6% in the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock worth $136,158,000 after acquiring an additional 3,193,089 shares in the last quarter. Congress Asset Management Co. purchased a new stake in Baker Hughes in the 4th quarter worth about $107,155,000. Finally, FMR LLC boosted its position in Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company’s stock worth $644,098,000 after acquiring an additional 1,744,225 shares during the period. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $37.84 on Thursday. The business’s 50-day simple moving average is $39.45 and its 200-day simple moving average is $42.01. 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 has a 52 week low of $30.93 and a 52 week high of $49.40. The firm has a market cap of $37.49 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating 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 for 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 earnings per share 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 issued a $0.23 dividend. 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 (DPR) is presently 31.40%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BKR. TD Securities dropped their target price on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada dropped their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Evercore ISI cut their target price on shares of Baker Hughes from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Barclays decreased their target price on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, TD Cowen dropped their price target on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.