Baker Hughes (NASDAQ:BKR) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in Baker Hughes (NASDAQ:BKR - Free Report) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,541,076 shares of the company's stock after purchasing an additional 45,324 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.56% of Baker Hughes worth $230,271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Baker Hughes in the 3rd quarter valued at about $30,000. True Wealth Design LLC lifted its stake in shares of Baker Hughes by 2,181.6% in 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. Continuum Advisory LLC lifted its position in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company's stock worth $35,000 after acquiring an additional 796 shares in the last quarter. Eastern Bank lifted its position in Baker Hughes by 598.4% during the 4th quarter. Eastern Bank now owns 1,739 shares of the company's stock worth $71,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Baker Hughes during the 3rd quarter worth approximately $103,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of NASDAQ BKR traded up $0.25 during trading on Friday, reaching $46.40. The stock had a trading volume of 4,850,154 shares, compared to its average volume of 8,438,286. Baker Hughes has a one year low of $28.66 and a one year 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 stock has a market cap of $45.91 billion, a PE ratio of 15.57, a P/E/G ratio of 2.07 and a beta of 1.39. The firm's 50 day moving average price is $43.81 and its two-hundred day moving average price is $39.83.

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 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, research analysts forecast that Baker Hughes will post 2.57 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.98%. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's payout ratio is currently 28.19%.

Insider Activity at Baker Hughes

In related 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 transaction of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BKR shares. Evercore ISI boosted their price target on Baker Hughes from $46.00 to $52.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. Benchmark reissued a "buy" rating and set a $57.00 price target on shares of Baker Hughes in a research report on Tuesday. Citigroup boosted their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Wells Fargo & Company boosted their price target on Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada boosted their price target on Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus price target of $51.06.

About Baker Hughes

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.