Retirement Systems of Alabama Sells 1,221 Shares of Baker Hughes (NASDAQ:BKR)

Retirement Systems of Alabama decreased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 218,926 shares of the company’s stock after selling 1,221 shares during the quarter. Retirement Systems of Alabama’s holdings in Baker Hughes were worth $7,914,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after acquiring an additional 123,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted 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 purchasing an additional 2,811,940 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Baker Hughes by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after buying an additional 145,537 shares during the period. Finally, Legal & General Group Plc raised its holdings in Baker Hughes by 8.6% in 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 during the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BKR shares. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Royal Bank of Canada boosted their price objective on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Benchmark restated a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Citigroup lifted their target price on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company increased their price target on Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $45.53.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $41.41 on Wednesday. The firm has a market capitalization of $40.98 billion, a P/E ratio of 18.57, a P/E/G ratio of 0.72 and a beta of 1.40. The firm’s 50-day moving average price is $40.71 and its 200-day moving average price is $36.85. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.03%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

Baker Hughes Company 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.