California Public Employees Retirement System Has $68.19 Million Position in Baker Hughes (NASDAQ:BKR)

California Public Employees Retirement System decreased its holdings in Baker Hughes (NASDAQ:BKR) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,662,413 shares of the company’s stock after selling 111,091 shares during the quarter. California Public Employees Retirement System’s holdings in Baker Hughes were worth $68,192,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BKR. Dynasty Wealth Management LLC raised its position in Baker Hughes by 2.7% in the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after purchasing an additional 207 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC lifted its position in shares of Baker Hughes by 0.7% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock worth $1,660,000 after buying an additional 267 shares during the period. Cromwell Holdings LLC lifted its position in shares of Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after buying an additional 269 shares during the period. Finally, 180 Wealth Advisors LLC boosted its stake in Baker Hughes by 1.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after buying an additional 295 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of analyst reports. TD Cowen cut their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada lifted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Benchmark reaffirmed a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. Jefferies Financial Group lifted their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group increased their price target on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.00.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s 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 owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $44.80 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The stock has a market capitalization of $44.36 billion, a P/E ratio of 15.03, a P/E/G ratio of 2.00 and a beta of 1.30. The business has a 50-day moving average price of $44.71 and a two-hundred day moving average price of $41.95.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping 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%. Equities analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.05%. Baker Hughes’s payout ratio is 30.87%.

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.