Canada Post Corp Registered Pension Plan Makes New $4.30 Million Investment in Baker Hughes (NASDAQ:BKR)

Canada Post Corp Registered Pension Plan purchased a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 104,753 shares of the company's stock, valued at approximately $4,297,000.

Several other hedge funds have also made changes to their positions in BKR. Norges Bank acquired a new stake in Baker Hughes during the 4th quarter worth $829,092,000. Raymond James Financial Inc. purchased a new position in Baker Hughes during the 4th quarter worth $291,289,000. Neuberger Berman Group LLC lifted its stake in shares of Baker Hughes by 2,527.6% in the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock worth $136,158,000 after acquiring an additional 3,193,089 shares during the period. Congress Asset Management Co. purchased a new position in Baker Hughes during the fourth quarter worth about $107,155,000. Finally, FMR LLC increased its position in Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after purchasing an additional 1,744,225 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Performance

Shares of Baker Hughes stock traded up $0.73 during trading hours on Friday, reaching $38.86. The company's stock had a trading volume of 5,548,880 shares, compared to its average volume of 6,876,305. The stock has a market cap of $38.47 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company's 50 day simple moving average is $42.50 and its 200 day simple moving average is $42.05. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

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

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. This is an increase 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 2.37%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes's payout ratio is presently 30.87%.

Insider Transactions 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BKR shares. Susquehanna reduced their price target on shares of Baker Hughes from $55.00 to $48.00 and set a "positive" rating for the company in a research report on Monday. Stifel Nicolaus reduced their price target on Baker Hughes from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday. Piper Sandler boosted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Barclays dropped their price target on Baker Hughes from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Finally, Evercore ISI raised their target price 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. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.65.

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.