Aviva PLC Raises Position in Baker Hughes (NASDAQ:BKR)

Aviva PLC increased its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 1,461.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 598,714 shares of the company's stock after acquiring an additional 560,374 shares during the quarter. Aviva PLC owned about 0.06% of Baker Hughes worth $24,559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BKR. Strategic Financial Concepts LLC purchased a new position in shares of Baker Hughes during the fourth quarter valued at about $640,000. Burney Co. grew its holdings in Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company's stock valued at $5,693,000 after buying an additional 105,349 shares in the last quarter. Geode Capital Management LLC increased its stake in Baker Hughes by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after acquiring an additional 465,832 shares during the last quarter. Northstar Advisory Group LLC purchased a new stake in shares of Baker Hughes during the 4th quarter worth approximately $1,180,000. Finally, Artemis Investment Management LLP boosted its position in shares of Baker Hughes by 29.4% during the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock valued at $43,233,000 after acquiring an additional 239,773 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Susquehanna upped their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a research report on Monday, February 3rd. The Goldman Sachs Group increased their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Barclays reduced their price objective on Baker Hughes from $55.00 to $54.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Finally, Wells Fargo & Company raised their price objective on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Two 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, the company presently has an average rating of "Moderate Buy" and an average price target of $51.18.

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Baker Hughes Trading Up 1.0 %

BKR stock traded up $0.38 during mid-day trading on Friday, reaching $37.04. The company had a trading volume of 2,919,401 shares, compared to its average volume of 6,843,996. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The company has a market capitalization of $36.68 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The firm has a 50 day moving average of $43.43 and a 200 day moving average of $42.01. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted 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%. On average, equities analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.48%. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's payout ratio is currently 30.87%.

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 directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.25% of the company's stock.

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.