Public Employees Retirement System of Ohio Has $12.81 Million Stake in Baker Hughes (NASDAQ:BKR)

Public Employees Retirement System of Ohio trimmed its stake in shares of Baker Hughes (NASDAQ:BKR) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 382,426 shares of the company’s stock after selling 42,076 shares during the period. Public Employees Retirement System of Ohio’s holdings in Baker Hughes were worth $12,811,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BKR. Price T Rowe Associates Inc. MD increased its stake in Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after buying an additional 4,207,973 shares during the last quarter. Lazard Asset Management LLC increased its stake in Baker Hughes by 26.7% in the 1st quarter. Lazard Asset Management LLC now owns 25,882 shares of the company’s stock valued at $866,000 after buying an additional 5,454 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Baker Hughes by 28.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 647,795 shares of the company’s stock valued at $21,701,000 after buying an additional 145,095 shares during the last quarter. Capital International Sarl grew its position in shares of Baker Hughes by 6.8% in the 1st quarter. Capital International Sarl now owns 126,242 shares of the company’s stock valued at $4,229,000 after acquiring an additional 8,060 shares during the period. Finally, Toronto Dominion Bank grew its position in shares of Baker Hughes by 1.5% in the 1st quarter. Toronto Dominion Bank now owns 579,805 shares of the company’s stock valued at $19,423,000 after acquiring an additional 8,614 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday. Evercore ISI lifted their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday. The Goldman Sachs Group boosted their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday. Stifel Nicolaus increased their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Bank of America dropped their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Baker Hughes Stock Performance

Shares of BKR traded up $0.82 during trading hours on Monday, hitting $38.47. The company’s stock had a trading volume of 13,433,716 shares, compared to its average volume of 7,559,972. The company has a market cap of $38.39 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 0.64 and a beta of 1.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The business has a 50 day simple moving average of $33.64 and a two-hundred day simple moving average of $32.25. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $38.59.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. On average, equities analysts expect that Baker Hughes will post 2.11 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Tuesday, August 6th will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.18%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the transaction, the executive vice president now owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is owned by corporate insiders.

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.