Generali Investments CEE investicni spolecnost a.s. bought a new position in Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 34,800 shares of the company's stock, valued at approximately $1,427,000.
Several other large investors have also recently modified their holdings of BKR. Raymond James Financial Inc. purchased a new position in shares of Baker Hughes during the fourth quarter valued at approximately $291,289,000. Hotchkis & Wiley Capital Management LLC boosted its stake in 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 worth $394,775,000 after acquiring an additional 2,811,940 shares in the last quarter. Congress Asset Management Co. purchased a new position in Baker Hughes during the fourth quarter valued at $107,155,000. Yaupon Capital Management LP purchased a new stake in Baker Hughes during the 3rd quarter valued at about $47,296,000. Finally, Eagle Asset Management Inc. raised its holdings in Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company's stock worth $198,326,000 after acquiring an additional 860,219 shares during 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 research analysts have commented on the stock. TD Cowen cut their target price on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Evercore ISI upped their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Benchmark reiterated a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Atb Cap Markets cut shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.06.
Read Our Latest Stock Analysis on Baker Hughes
Baker Hughes Stock Up 1.5 %
Baker Hughes stock traded up $0.63 during mid-day trading on Wednesday, reaching $42.48. 7,128,731 shares of the company were exchanged, compared to its average volume of 6,304,063. The business has a fifty day moving average of $44.84 and a 200 day moving average of $40.94. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a market cap of $42.06 billion, a P/E ratio of 14.26, a PEG ratio of 2.00 and a beta of 1.30.
Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Research analysts anticipate that Baker Hughes will post 2.59 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 21st. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.17%. Baker Hughes's payout ratio is 30.87%.
Insider Buying and Selling at Baker Hughes
In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.25% of the company's stock.
Baker Hughes Company Profile
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Free Report)
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.
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