Intermede Investment Partners Ltd Sells 1,623,506 Shares of Baker Hughes (NASDAQ:BKR)

Intermede Investment Partners Ltd lowered its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 41.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,312,473 shares of the company's stock after selling 1,623,506 shares during the quarter. Baker Hughes makes up approximately 2.5% of Intermede Investment Partners Ltd's portfolio, making the stock its 23rd largest holding. Intermede Investment Partners Ltd owned about 0.23% of Baker Hughes worth $94,858,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Dynasty Wealth Management LLC grew its position in shares of Baker Hughes by 2.7% during the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company's stock valued at $324,000 after acquiring an additional 207 shares during the period. Larson Financial Group LLC lifted its stake in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after purchasing an additional 216 shares during the last quarter. Cromwell Holdings LLC grew its holdings in Baker Hughes by 9.3% during the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company's stock valued at $130,000 after purchasing an additional 269 shares during the period. 180 Wealth Advisors LLC increased its position in Baker Hughes by 1.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company's stock worth $923,000 after buying an additional 295 shares during the last quarter. Finally, Key Financial Inc raised its stake in shares of Baker Hughes by 16.3% in the fourth quarter. Key Financial Inc now owns 2,676 shares of the company's stock valued at $110,000 after buying an additional 376 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the 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 transaction, the executive vice president now owns 173,302 shares of the company's stock, valued at approximately $7,758,730.54. This trade represents 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. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on 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 lifted their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. TD Cowen lowered their price target on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Susquehanna raised their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a "positive" rating in a report on Monday, February 3rd. Finally, Bank of America increased their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Baker Hughes presently has an average rating of "Moderate Buy" and an average target price of $51.06.

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Baker Hughes Price Performance

BKR stock opened at $42.48 on Thursday. The firm has a 50 day simple moving average of $44.87 and a two-hundred day simple moving average of $40.95. The stock has a market cap of $42.06 billion, a PE ratio of 14.26, a P/E/G ratio of 2.00 and a beta of 1.30. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

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, 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%. On average, analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.17%. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes's dividend payout ratio (DPR) is currently 30.87%.

About Baker Hughes

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.

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