Adams Diversified Equity Fund Inc. Grows Position in Baker Hughes (NASDAQ:BKR)

Adams Diversified Equity Fund Inc. lifted its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 46.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 337,200 shares of the company's stock after purchasing an additional 107,300 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Baker Hughes were worth $13,832,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Thrivent Financial for Lutherans grew its position in shares of Baker Hughes by 90.4% in the third quarter. Thrivent Financial for Lutherans now owns 447,673 shares of the company's stock valued at $16,183,000 after purchasing an additional 212,520 shares in the last quarter. Quest Partners LLC increased its position in shares of Baker Hughes by 446,900.0% in the third quarter. Quest Partners LLC now owns 4,470 shares of the company's stock worth $162,000 after purchasing an additional 4,469 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of Baker Hughes by 11.4% during the 3rd quarter. Caprock Group LLC now owns 33,955 shares of the company's stock worth $1,227,000 after acquiring an additional 3,475 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Baker Hughes by 13.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 134,735 shares of the company's stock valued at $4,871,000 after purchasing an additional 15,477 shares during the last quarter. Finally, Commerce Bank lifted its holdings in shares of Baker Hughes by 3.1% in the 3rd quarter. Commerce Bank now owns 30,775 shares of the company's stock worth $1,113,000 after acquiring an additional 921 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

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Baker Hughes Stock Performance

BKR traded up $0.58 during midday trading on Tuesday, hitting $45.18. 7,541,276 shares of the company traded hands, compared to its average volume of 6,286,726. The company's 50-day moving average is $44.96 and its 200 day moving average is $41.50. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $44.73 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, research analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a $0.23 dividend. This is an increase 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 2.04%. The ex-dividend date was Tuesday, February 11th. Baker Hughes's dividend payout ratio (DPR) is 30.87%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares of the company's stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BKR has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on Baker Hughes from $48.00 to $54.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Piper Sandler boosted their target price on Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. The Goldman Sachs Group raised their price target on Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Evercore ISI boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. Finally, Susquehanna raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a "positive" rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $51.06.

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.