Thrivent Financial for Lutherans Boosts Stake in Baker Hughes (NASDAQ:BKR)

Thrivent Financial for Lutherans grew its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 496,223 shares of the company's stock after acquiring an additional 48,550 shares during the quarter. Thrivent Financial for Lutherans owned 0.05% of Baker Hughes worth $20,355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BKR. Strategic Financial Concepts LLC bought a new stake in Baker Hughes during the 4th quarter worth $640,000. Burney Co. grew its holdings in shares of Baker Hughes by 315.0% during the fourth quarter. Burney Co. now owns 138,788 shares of the company's stock worth $5,693,000 after purchasing an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC acquired a new position in shares of Baker Hughes in the fourth quarter valued at approximately $1,180,000. Artemis Investment Management LLP raised its holdings in Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock valued at $43,233,000 after buying an additional 239,773 shares during the last quarter. Finally, Czech National Bank boosted its position 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 buying an additional 12,178 shares during the period. Institutional investors own 92.06% of the company's stock.

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 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 directly owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company's stock.

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Baker Hughes Stock Performance

BKR traded up $0.58 on Tuesday, hitting $45.18. The company's stock had a trading volume of 7,539,326 shares, compared to its average volume of 7,784,539. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The firm has a market cap of $44.73 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The company's 50 day simple moving average is $44.96 and its 200-day simple moving average is $41.50.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 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%. Analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.04%. Baker Hughes's dividend payout ratio is currently 30.87%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Bank of America raised their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Susquehanna upped their price target on Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a research report on Monday, February 3rd. Evercore ISI raised their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. Finally, TD Cowen reduced their target price on Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and a consensus price target of $51.06.

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.