Paladin Wealth LLC Acquires New Stake in Baker Hughes (NASDAQ:BKR)

Paladin Wealth LLC bought a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,125 shares of the company's stock, valued at approximately $456,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bridges Investment Management Inc. increased its position in Baker Hughes by 3.1% during the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company's stock worth $333,000 after buying an additional 273 shares during the last quarter. 180 Wealth Advisors LLC increased its position in Baker Hughes by 1.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company's stock worth $923,000 after buying an additional 295 shares during the last quarter. Graypoint LLC increased its position in Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company's stock worth $372,000 after buying an additional 301 shares during the last quarter. Bleakley Financial Group LLC increased its position in Baker Hughes by 1.8% during the fourth quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company's stock worth $861,000 after buying an additional 380 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company's stock worth $1,079,000 after buying an additional 398 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BKR. Barclays boosted their price target on Baker Hughes from $51.00 to $55.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Argus raised Baker Hughes from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. The Goldman Sachs Group upped their target price on Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Jefferies Financial Group upped their target price on Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Finally, Atb Cap Markets downgraded Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and seventeen 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 an average price target of $51.06.

Baker Hughes Price Performance

NASDAQ BKR traded up $0.25 on Friday, hitting $46.40. 4,850,154 shares of the company's stock were exchanged, compared to its average volume of 7,777,240. The stock has a 50-day moving average of $43.71 and a 200-day moving average of $39.78. 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 52 week low of $28.66 and a 52 week high of $49.40. The stock has a market cap of $45.91 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 2.07 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Analysts expect that Baker Hughes will post 2.57 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.98%. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. Baker Hughes's dividend payout ratio is presently 28.19%.

Baker Hughes 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.