Mitsubishi UFJ Trust & Banking Corp Reduces Stake in Baker Hughes (NASDAQ:BKR)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Baker Hughes (NASDAQ:BKR) by 18.8% during the fourth quarter, HoldingsChannel reports. The firm owned 455,125 shares of the company’s stock after selling 105,251 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Baker Hughes were worth $18,669,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Baker Hughes during the 4th quarter valued at about $291,289,000. Hotchkis & Wiley Capital Management LLC grew its stake in shares of 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 buying an additional 2,811,940 shares during the last quarter. Congress Asset Management Co. purchased a new stake in shares of Baker Hughes in the fourth quarter worth approximately $107,155,000. Yaupon Capital Management LP bought a new stake in shares of Baker Hughes during the 3rd quarter worth approximately $47,296,000. Finally, Natixis Advisors LLC boosted its holdings in Baker Hughes by 217.5% during the 4th quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock valued at $70,901,000 after acquiring an additional 1,184,036 shares during the period. 92.06% of the stock is owned by institutional investors.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Down 0.9 %

NASDAQ:BKR opened at $43.63 on Friday. The company’s 50-day simple moving average is $44.88 and its 200-day simple moving average is $41.61. 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 fifty-two week low of $30.93 and a fifty-two week high of $49.40. The stock has a market capitalization of $43.20 billion, a P/E ratio of 14.64, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, equities analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.11%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s payout ratio is 30.87%.

Analyst Ratings Changes

A number of analysts have weighed in on BKR shares. Stifel Nicolaus increased their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group boosted their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Benchmark reaffirmed a “buy” rating and set a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group boosted their price target on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

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.