Teachers Retirement System of The State of Kentucky Trims Holdings in Baker Hughes (NASDAQ:BKR)

Teachers Retirement System of The State of Kentucky decreased its stake in shares of Baker Hughes (NASDAQ:BKR) by 6.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 73,204 shares of the company’s stock after selling 5,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Baker Hughes were worth $2,646,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after acquiring an additional 123,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after buying an additional 680,621 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Baker Hughes by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock worth $348,233,000 after buying an additional 145,537 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Baker Hughes by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after buying an additional 692,859 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Baker Hughes stock opened at $42.15 on Monday. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The firm has a market cap of $41.71 billion, a P/E ratio of 18.90, a P/E/G ratio of 0.72 and a beta of 1.40. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. The firm has a 50-day moving average of $40.55 and a 200-day moving average of $36.73.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter last year, the business posted $0.42 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is currently 37.67%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. BMO Capital Markets increased their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.12.

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.