Massachusetts Wealth Management Buys 20,550 Shares of Baker Hughes (NASDAQ:BKR)

Massachusetts Wealth Management increased its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 230.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,475 shares of the company's stock after purchasing an additional 20,550 shares during the quarter. Massachusetts Wealth Management's holdings in Baker Hughes were worth $1,209,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in Baker Hughes in the third quarter worth about $30,000. True Wealth Design LLC grew its stake in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after acquiring an additional 829 shares during the period. Groupama Asset Managment increased its holdings in Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock worth $32,000 after acquiring an additional 811,711 shares during the last quarter. Continuum Advisory LLC lifted its holdings in Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company's stock valued at $35,000 after purchasing an additional 796 shares during the last quarter. Finally, Eastern Bank increased its stake in shares of Baker Hughes by 598.4% in the fourth quarter. Eastern Bank now owns 1,739 shares of the company's stock worth $71,000 after purchasing an additional 1,490 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated Monday, January 27th. The stock was 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. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BKR has been the subject of a number of recent analyst reports. Jefferies Financial Group boosted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Royal Bank of Canada raised their price target on Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Citigroup boosted their price objective on Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Susquehanna raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a research note on Monday, February 3rd. Finally, Evercore ISI boosted their price target 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. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $50.18.

Baker Hughes Stock Performance

NASDAQ BKR traded down $0.78 during trading hours on Friday, hitting $46.20. The company's stock had a trading volume of 7,669,328 shares, compared to its average volume of 8,438,286. 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 company has a market cap of $45.72 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. The company's 50 day simple moving average is $43.42 and its two-hundred day simple moving average is $39.47. Baker Hughes has a 12 month low of $28.63 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, sell-side analysts expect that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 1.99%. Baker Hughes's payout ratio is 28.19%.

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.