LPL Financial LLC Acquires 105,878 Shares of Baker Hughes (NASDAQ:BKR)

LPL Financial LLC increased its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 57.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 289,414 shares of the company's stock after acquiring an additional 105,878 shares during the quarter. LPL Financial LLC's holdings in Baker Hughes were worth $11,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in BKR. KLP Kapitalforvaltning AS purchased a new stake in Baker Hughes in the fourth quarter worth $15,424,000. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Baker Hughes by 55.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 16,709 shares of the company's stock valued at $685,000 after buying an additional 5,970 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in shares of Baker Hughes by 5,538.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 20,300 shares of the company's stock worth $833,000 after buying an additional 19,940 shares during the period. Mizuho Securities USA LLC increased its stake in shares of Baker Hughes by 45.6% in the 4th quarter. Mizuho Securities USA LLC now owns 93,785 shares of the company's stock worth $3,847,000 after acquiring an additional 29,367 shares in the last quarter. Finally, Adams Natural Resources Fund Inc. lifted its holdings in shares of Baker Hughes by 7.3% during the fourth quarter. Adams Natural Resources Fund Inc. now owns 428,100 shares of the company's stock valued at $17,561,000 after purchasing an additional 29,300 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

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Insider Buying and Selling

In related 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 value 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 approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BKR. Royal Bank of Canada raised their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Benchmark reaffirmed a "buy" rating and issued a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. The Goldman Sachs Group upped 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. Stifel Nicolaus raised their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Piper Sandler boosted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.00.

Baker Hughes Stock Performance

Shares of BKR traded up $0.30 on Monday, reaching $35.71. The company's stock had a trading volume of 16,797,641 shares, compared to its average volume of 6,733,162. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The stock has a market capitalization of $35.36 billion, a P/E ratio of 11.98, a PEG ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock's 50 day simple moving average is $44.24 and its two-hundred day simple moving average is $42.07.

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

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.58%. Baker Hughes's payout ratio is 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.