Fmr LLC Increases Holdings in Baker Hughes (NASDAQ:BKR)

FMR LLC boosted its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,702,057 shares of the company's stock after purchasing an additional 1,744,225 shares during the quarter. FMR LLC owned approximately 1.59% of Baker Hughes worth $644,098,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BKR. Benjamin Edwards Inc. acquired a new stake in shares of Baker Hughes in the third quarter valued at about $283,000. Morse Asset Management Inc purchased a new position in Baker Hughes in the 3rd quarter valued at about $1,263,000. Quadrature Capital Ltd acquired a new stake in Baker Hughes in the 3rd quarter worth about $322,000. Wellington Management Group LLP increased its stake in Baker Hughes by 4.1% during the 3rd quarter. Wellington Management Group LLP now owns 408,310 shares of the company's stock worth $14,760,000 after buying an additional 16,025 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of Baker Hughes during the third quarter valued at approximately $637,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the company'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 sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BKR shares. Susquehanna lifted their price target on Baker Hughes from $53.00 to $55.00 and gave the stock a "positive" rating in a research note on Monday, February 3rd. Jefferies Financial Group upped their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Royal Bank of Canada upped their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Finally, Citigroup decreased their target price on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $51.18.

Baker Hughes Stock Performance

Baker Hughes stock remained flat at $37.93 during midday trading on Monday. The company had a trading volume of 980,722 shares, compared to its average volume of 6,865,670. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a market capitalization of $37.55 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 2.00 and a beta of 1.08. The business has a 50-day simple moving average of $43.23 and a 200-day simple moving average of $42.07. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share 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%. Equities research analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently disclosed 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 represents a $0.92 dividend on an annualized basis and a dividend yield of 2.43%. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio is currently 30.87%.

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.