Iridian Asset Management LLC CT Sells 10,810 Shares of Baker Hughes Company $BKR

Iridian Asset Management LLC CT reduced its position in Baker Hughes Company (NASDAQ:BKR) by 14.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,016 shares of the company’s stock after selling 10,810 shares during the period. Baker Hughes accounts for about 1.2% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 25th biggest position. Iridian Asset Management LLC CT’s holdings in Baker Hughes were worth $3,070,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Forum Financial Management LP increased its stake in Baker Hughes by 1.4% in the 2nd quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after acquiring an additional 233 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Baker Hughes by 4.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock valued at $260,000 after purchasing an additional 275 shares in the last quarter. CWM LLC increased its position in Baker Hughes by 0.6% in the third quarter. CWM LLC now owns 44,731 shares of the company’s stock worth $2,179,000 after purchasing an additional 287 shares during the last quarter. V Square Quantitative Management LLC increased its position in Baker Hughes by 1.4% in the second quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock worth $834,000 after purchasing an additional 292 shares during the last quarter. Finally, Moody National Bank Trust Division raised its stake in Baker Hughes by 5.9% during the second quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock valued at $205,000 after purchasing an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Bank of America increased their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Jefferies Financial Group boosted their price objective on Baker Hughes from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Barclays upped their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, Evercore ISI set a $54.00 target price on Baker Hughes in a report on Monday, October 27th. Twenty-three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.92.

Baker Hughes Stock Down 0.5%

Shares of NASDAQ BKR opened at $49.97 on Monday. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $51.12. The firm has a 50-day simple moving average of $47.71 and a two-hundred day simple moving average of $45.73. The company has a market cap of $49.31 billion, a P/E ratio of 17.23, a PEG ratio of 1.76 and a beta of 0.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The firm had revenue of $5.09 billion for the quarter. Research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 31.72%.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.