KBC Group NV Acquires 182,099 Shares of Baker Hughes (NASDAQ:BKR)

KBC Group NV lifted its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 255.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,279 shares of the company's stock after acquiring an additional 182,099 shares during the quarter. KBC Group NV's holdings in Baker Hughes were worth $10,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BKR. National Pension Service increased its stake in shares of Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company's stock worth $49,271,000 after purchasing an additional 81,625 shares during the last quarter. Burney Co. increased its position in Baker Hughes by 315.0% during the fourth quarter. Burney Co. now owns 138,788 shares of the company's stock worth $5,693,000 after buying an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC bought a new position in Baker Hughes during the fourth quarter valued at about $1,180,000. Artemis Investment Management LLP lifted its position in shares of Baker Hughes by 29.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock worth $43,233,000 after buying an additional 239,773 shares during the last quarter. Finally, Czech National Bank boosted its stake in shares of Baker Hughes by 6.0% during the 4th quarter. Czech National Bank now owns 214,549 shares of the company's stock worth $8,801,000 after acquiring an additional 12,178 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BKR. Argus raised Baker Hughes from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Citigroup lifted their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Evercore ISI boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Royal Bank of Canada raised their target price on shares of Baker Hughes from $43.00 to $49.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets boosted their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.06.

Baker Hughes Trading Up 2.9 %

Shares of NASDAQ:BKR traded up $1.24 during trading on Thursday, hitting $44.31. 6,574,524 shares of the company's stock were exchanged, compared to its average volume of 6,817,528. The firm has a 50-day moving average price of $43.00 and a two-hundred day moving average price of $38.96. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $47.47. The firm has a market cap of $43.85 billion, a P/E ratio of 19.93, a PEG ratio of 0.88 and a beta of 1.39. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares of the company's stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company's stock.

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.