Nemes Rush Group LLC Acquires 6,262 Shares of Baker Hughes (NASDAQ:BKR)

Nemes Rush Group LLC grew its position in Baker Hughes (NASDAQ:BKR - Free Report) by 532.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,437 shares of the company's stock after purchasing an additional 6,262 shares during the period. Nemes Rush Group LLC's holdings in Baker Hughes were worth $305,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BKR. Townsquare Capital LLC boosted its position in Baker Hughes by 41.0% in the third quarter. Townsquare Capital LLC now owns 21,551 shares of the company's stock worth $779,000 after purchasing an additional 6,272 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Baker Hughes in the 3rd quarter worth about $1,004,000. Point72 Hong Kong Ltd bought a new position in Baker Hughes during the third quarter valued at about $416,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Baker Hughes during the third quarter worth about $386,000. Finally, Benjamin Edwards Inc. bought a new stake in Baker Hughes in the third quarter worth about $283,000. 92.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction 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 directly owns 173,302 shares of the company's stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have recently issued reports on BKR. Royal Bank of Canada raised their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Stifel Nicolaus raised their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Wells Fargo & Company upped their price target on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Jefferies Financial Group lifted their price objective on Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Finally, Atb Cap Markets downgraded shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $51.00.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded down $5.45 during midday trading on Friday, hitting $35.41. 20,972,174 shares of the company's stock were exchanged, compared to its average volume of 6,692,906. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a market cap of $35.06 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 2.00 and a beta of 1.08. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The business's fifty day moving average price is $44.40 and its two-hundred day moving average price is $42.02.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data 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 net margin of 10.70% and a return on equity of 14.58%. As a group, research analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a $0.23 dividend. This is a boost 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 2.60%. The ex-dividend date was Tuesday, February 11th. Baker Hughes's dividend payout ratio is presently 30.87%.

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.