Minneapolis Portfolio Management Group LLC Has $23.86 Million Stake in Baker Hughes (NASDAQ:BKR)

Minneapolis Portfolio Management Group LLC lifted its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 581,742 shares of the company's stock after buying an additional 6,383 shares during the period. Baker Hughes makes up 3.1% of Minneapolis Portfolio Management Group LLC's portfolio, making the stock its 18th biggest position. Minneapolis Portfolio Management Group LLC owned 0.06% of Baker Hughes worth $23,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of BKR. Strategic Financial Concepts LLC purchased a new position in Baker Hughes in the 4th quarter valued at about $640,000. Burney Co. lifted its stake in shares of Baker Hughes by 315.0% in the fourth quarter. Burney Co. now owns 138,788 shares of the company's stock worth $5,693,000 after acquiring an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC purchased a new position in Baker Hughes in the fourth quarter valued at about $1,180,000. Artemis Investment Management LLP grew its stake in 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 purchasing an additional 239,773 shares in the last quarter. Finally, Czech National Bank increased its holdings in Baker Hughes by 6.0% during the 4th quarter. Czech National Bank now owns 214,549 shares of the company's stock worth $8,801,000 after purchasing an additional 12,178 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the 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 sale, the executive vice president now 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 Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Baker Hughes Stock Down 1.3 %

Shares of BKR traded down $0.55 during mid-day trading on Friday, hitting $43.08. 4,460,046 shares of the company's stock were exchanged, compared to its average volume of 6,603,933. The stock has a market cap of $42.65 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 2.00 and a beta of 1.30. The firm has a fifty day moving average of $44.81 and a two-hundred day moving average of $41.67. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $30.93 and a twelve month 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 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, sell-side analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Tuesday, February 11th. Baker Hughes's dividend payout ratio is currently 30.87%.

Analyst Ratings Changes

A number of research firms have commented on BKR. Bank of America increased their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. TD Cowen decreased their price target on Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Piper Sandler increased their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Stifel Nicolaus upped their price target on Baker Hughes from $48.00 to $54.00 and gave the company a "buy" rating in a research report 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 stock has an average rating of "Moderate Buy" and a consensus price target of $51.06.

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.