Ilmarinen Mutual Pension Insurance Co Purchases 39,000 Shares of Baker Hughes (NASDAQ:BKR)

Ilmarinen Mutual Pension Insurance Co grew its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 39.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,000 shares of the company's stock after buying an additional 39,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Baker Hughes were worth $5,702,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in Baker Hughes by 31.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 604,433 shares of the company's stock worth $24,794,000 after purchasing an additional 143,797 shares during the period. Aviva PLC boosted its holdings in shares of Baker Hughes by 1,461.6% during the 4th quarter. Aviva PLC now owns 598,714 shares of the company's stock worth $24,559,000 after buying an additional 560,374 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in Baker Hughes in the 4th quarter valued at about $12,281,000. Smith Moore & CO. bought a new position in Baker Hughes in the 4th quarter valued at about $222,000. Finally, Foundry Partners LLC acquired a new stake in Baker Hughes during the fourth quarter worth approximately $8,456,000. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Jefferies Financial Group lifted their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Wells Fargo & Company upped their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a report 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 report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of "Moderate Buy" and an average target price of $51.18.

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Insider Activity

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 transaction of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares of the company's stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company's stock.

Baker Hughes Trading Up 1.6 %

Shares of NASDAQ:BKR traded up $0.58 during midday trading on Friday, hitting $37.24. 3,054,796 shares of the stock were exchanged, compared to its average volume of 6,844,443. The business's 50-day moving average price is $43.43 and its 200 day moving average price is $42.01. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. 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 stock has a market capitalization of $36.87 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 2.00 and a beta of 1.08.

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

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's payout ratio is 30.87%.

Baker Hughes 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.