Geode Capital Management LLC Buys 465,832 Shares of Baker Hughes (NASDAQ:BKR)

Geode Capital Management LLC grew its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,543,925 shares of the company's stock after purchasing an additional 465,832 shares during the period. Geode Capital Management LLC owned approximately 2.48% of Baker Hughes worth $1,004,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. 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 fourth quarter valued at about $291,289,000. Congress Asset Management Co. bought a new stake in Baker Hughes during the 4th quarter worth about $107,155,000. Yaupon Capital Management LP bought a new position in shares of Baker Hughes in the third quarter worth about $47,296,000. Finally, Natixis Advisors LLC grew its stake in shares of Baker Hughes by 217.5% during the fourth quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company's stock valued at $70,901,000 after purchasing an additional 1,184,036 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Insider Activity at Baker Hughes

In other Baker Hughes 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 completion of the sale, the executive vice president now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.

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Baker Hughes Stock Down 0.8 %

BKR stock traded down $0.28 during midday trading on Monday, hitting $35.13. The company's stock had a trading volume of 7,398,965 shares, compared to its average volume of 6,696,696. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The stock has a market capitalization of $34.78 billion, a P/E ratio of 11.70, a PEG ratio of 2.00 and a beta of 1.08. 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's fifty day moving average price is $44.40 and its 200 day moving average price is $42.07.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. As a group, equities research analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.62%. Baker Hughes's payout ratio is presently 30.87%.

Analysts Set New Price Targets

BKR has been the topic of several research reports. Evercore ISI upped their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. Susquehanna lifted their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock a "positive" rating in a research report on Monday, February 3rd. Stifel Nicolaus boosted their price objective on Baker Hughes from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. The Goldman Sachs Group raised their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. 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 research note 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.00.

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.