Generali Asset Management SPA SGR Takes Position in Baker Hughes (NASDAQ:BKR)

Generali Asset Management SPA SGR bought a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 190,730 shares of the company's stock, valued at approximately $7,824,000.

A number of other institutional investors have also added to or reduced their stakes in BKR. Atria Investments Inc grew its position in Baker Hughes by 11.3% during the third quarter. Atria Investments Inc now owns 14,822 shares of the company's stock worth $536,000 after buying an additional 1,505 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Baker Hughes by 13.9% during the third quarter. Natixis Advisors LLC now owns 544,414 shares of the company's stock valued at $19,681,000 after purchasing an additional 66,444 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Baker Hughes by 90.4% during the third quarter. Thrivent Financial for Lutherans now owns 447,673 shares of the company's stock valued at $16,183,000 after purchasing an additional 212,520 shares in the last quarter. AMG National Trust Bank boosted its holdings in Baker Hughes by 18.7% during the third quarter. AMG National Trust Bank now owns 9,438 shares of the company's stock valued at $341,000 after purchasing an additional 1,487 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in Baker Hughes by 446,900.0% during the third quarter. Quest Partners LLC now owns 4,470 shares of the company's stock valued at $162,000 after purchasing an additional 4,469 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BKR shares. JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Jefferies Financial Group lifted their price objective on Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Bank of America lifted their price objective on Baker Hughes from $42.00 to $48.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. TD Cowen decreased their price objective on Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and an average target price of $51.06.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company's stock in a transaction 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 owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company's stock.

Baker Hughes Trading Down 1.3 %

BKR stock traded down $0.58 during trading on Friday, hitting $44.11. The company had a trading volume of 20,138,327 shares, compared to its average volume of 6,281,327. 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 50-day moving average price of $44.97 and a 200-day moving average price of $41.32. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The stock has a market cap of $43.67 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 predict that Baker Hughes will post 2.59 earnings per share 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 given a dividend of $0.23 per share. This is a boost 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 dividend yield of 2.09%. Baker Hughes's payout ratio is presently 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.