AIA Group Ltd Lowers Position in Baker Hughes (NASDAQ:BKR)

AIA Group Ltd decreased its stake in shares of Baker Hughes (NASDAQ:BKR) by 44.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,580 shares of the company’s stock after selling 65,741 shares during the period. AIA Group Ltd’s holdings in Baker Hughes were worth $2,788,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BKR. Miller Howard Investments Inc. NY raised its holdings in shares of Baker Hughes by 0.5% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 55,658 shares of the company’s stock worth $1,966,000 after purchasing an additional 303 shares during the period. Blue Trust Inc. increased its holdings in Baker Hughes by 15.5% in the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after acquiring an additional 327 shares during the last quarter. Quarry LP raised its holdings in Baker Hughes by 41.3% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $36,000 after acquiring an additional 331 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in Baker Hughes by 3.4% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,652 shares of the company’s stock worth $315,000 after buying an additional 350 shares in the last quarter. Finally, Rational Advisors LLC raised its stake in shares of Baker Hughes by 44.0% during the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after acquiring an additional 382 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of Baker Hughes stock traded up $0.21 during trading hours on Thursday, reaching $32.23. 3,576,336 shares of the stock traded hands, compared to its average volume of 8,789,820. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The firm has a market capitalization of $32.26 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 0.61 and a beta of 1.42. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $31.55 and a 200 day moving average price of $32.60.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts expect that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.61%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, February 12th. Baker Hughes’s dividend payout ratio is 43.98%.

Analysts Set New Price Targets

Several research firms recently commented on BKR. TD Cowen increased their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Citigroup dropped their target price on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 26th. Susquehanna reaffirmed a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Finally, Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $40.87.

Insider Buying and Selling

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

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.