Congress Asset Management Co. Acquires New Shares in Baker Hughes (NASDAQ:BKR)

Congress Asset Management Co. acquired a new position in Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,612,270 shares of the company's stock, valued at approximately $107,155,000. Congress Asset Management Co. owned 0.26% of Baker Hughes as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Baker Hughes during the 3rd quarter worth $30,000. True Wealth Design LLC raised its stake in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after purchasing an additional 829 shares in the last quarter. Continuum Advisory LLC lifted its holdings in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company's stock worth $35,000 after purchasing an additional 796 shares during the period. Eastern Bank lifted its holdings in Baker Hughes by 598.4% in the fourth quarter. Eastern Bank now owns 1,739 shares of the company's stock worth $71,000 after purchasing an additional 1,490 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Baker Hughes in the 3rd quarter valued at about $103,000. 92.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were 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 directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.25% of the company's stock.

Baker Hughes Trading Down 0.2 %

Shares of BKR stock traded down $0.09 during trading hours on Wednesday, reaching $46.89. 5,055,557 shares of the stock traded hands, compared to its average volume of 7,606,199. The business has a fifty day moving average price of $44.03 and a 200 day moving average price of $39.99. Baker Hughes has a 1-year low of $28.66 and a 1-year high of $49.40. 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 firm has a market capitalization of $46.43 billion, a PE ratio of 15.73, a PEG ratio of 2.04 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released 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 return on equity of 14.58% and a net margin of 10.70%. On average, equities research analysts forecast that Baker Hughes will post 2.58 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.96%. The ex-dividend date is Tuesday, February 11th. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's payout ratio is 30.87%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. The Goldman Sachs Group upped their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Argus upgraded Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Finally, Royal Bank of Canada lifted their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. 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, Baker Hughes has an average rating of "Moderate Buy" and an average target price 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.