Wellington Management Group LLP Raises Stock Position in Baker Hughes (NASDAQ:BKR)

Wellington Management Group LLP boosted its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 455,714 shares of the company's stock after acquiring an additional 47,404 shares during the period. Wellington Management Group LLP's holdings in Baker Hughes were worth $18,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Baker Hughes by 0.5% during the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company's stock worth $867,514,000 after buying an additional 123,172 shares during the period. Norges Bank bought a new stake in Baker Hughes during the 4th quarter worth approximately $829,092,000. Raymond James Financial Inc. bought a new position in shares of Baker Hughes in the 4th quarter worth about $291,289,000. Charles Schwab Investment Management Inc. increased its position in Baker Hughes by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company's stock valued at $290,705,000 after buying an additional 135,200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Baker Hughes by 0.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company's stock worth $230,271,000 after buying an additional 45,324 shares during the period. Institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on BKR shares. Evercore ISI raised their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th. Royal Bank of Canada increased 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. JPMorgan Chase & Co. increased their price objective 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. Benchmark restated a "buy" rating and issued a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group boosted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.18.

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Baker Hughes Trading Up 0.3 %

Shares of BKR stock traded up $0.13 during trading hours on Monday, hitting $38.06. The company had a trading volume of 324,818 shares, compared to its average volume of 6,863,260. 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 stock has a market capitalization of $37.68 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40. The company's fifty day moving average is $43.23 and its 200 day moving average is $42.07.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.42%. This is a boost 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 business's stock in a transaction dated Monday, January 27th. The shares were 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.