Frank Rimerman Advisors LLC Buys Shares of 5,745 Baker Hughes (NASDAQ:BKR)

Frank Rimerman Advisors LLC purchased a new position in Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,745 shares of the company's stock, valued at approximately $236,000.

Other hedge funds have also recently modified their holdings of the company. JFS Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after acquiring an additional 386 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Baker Hughes in the 4th quarter worth $30,000. Larson Financial Group LLC lifted its position in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after purchasing an additional 216 shares during the period. True Wealth Design LLC boosted its stake in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after purchasing an additional 829 shares in the last quarter. Finally, Groupama Asset Managment boosted its stake in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock valued at $32,000 after purchasing an additional 811,711 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on BKR shares. Benchmark restated a "buy" rating and issued a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Susquehanna lifted their price target on Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a research report on Monday, February 3rd. Piper Sandler increased their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Royal Bank of Canada boosted their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.06.

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Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company's stock.

Baker Hughes Stock Down 1.3 %

BKR stock traded down $0.58 during midday trading on Friday, hitting $44.11. The company's stock had a trading volume of 20,138,254 shares, compared to its average volume of 6,287,829. The company has a market cap of $43.67 billion, a PE ratio of 14.80, a P/E/G ratio of 2.00 and a beta of 1.30. The firm's 50-day moving average is $44.95 and its 200-day moving average is $41.26. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. 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 (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Tuesday, February 11th. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio (DPR) is presently 30.87%.

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.