Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 127,900 Shares of Baker Hughes Company $BKR

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 10.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,109,203 shares of the company’s stock after selling 127,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned approximately 0.11% of Baker Hughes worth $42,527,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in Baker Hughes by 27.9% during the 1st quarter. GAMMA Investing LLC now owns 13,158 shares of the company’s stock valued at $578,000 after purchasing an additional 2,872 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Baker Hughes by 32.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,919 shares of the company’s stock valued at $963,000 after purchasing an additional 5,313 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company’s stock valued at $36,000 after purchasing an additional 465 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Baker Hughes by 5.0% in the 1st quarter. Bessemer Group Inc. now owns 14,699 shares of the company’s stock valued at $645,000 after purchasing an additional 705 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company’s stock valued at $30,000 after purchasing an additional 604 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

BKR has been the topic of several recent research reports. TD Cowen raised their target price on shares of Baker Hughes from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Monday. Capital One Financial raised their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. JPMorgan Chase & Co. raised their target price on shares of Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, September 30th. Morgan Stanley increased their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Finally, Barclays increased their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday. Twenty-three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.29.

Insider Buying and Selling

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive vice president directly owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This represents a 38.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the sale, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at approximately $588,600. The trade was a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $46.60 on Tuesday. The company has a market capitalization of $45.94 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 2.04 and a beta of 0.99. The firm’s 50 day simple moving average is $46.60 and its 200 day simple moving average is $41.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.92.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The business had revenue of $5.09 billion during the quarter. As a group, sell-side analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Tuesday, November 4th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, November 4th. Baker Hughes’s dividend payout ratio is presently 31.72%.

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.