Nordea Investment Management AB raised its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,810,915 shares of the company's stock after acquiring an additional 83,266 shares during the quarter. Nordea Investment Management AB owned approximately 0.18% of Baker Hughes worth $74,592,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes during the third quarter valued at $30,000. True Wealth Design LLC boosted 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 purchasing an additional 829 shares during the last quarter. Groupama Asset Managment grew its holdings in shares of Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock worth $32,000 after buying an additional 811,711 shares in the last quarter. Continuum Advisory LLC lifted its stake in shares of 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 buying an additional 796 shares during the period. Finally, Alta Advisers Ltd acquired a new stake in Baker Hughes during the second quarter worth approximately $42,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on BKR shares. TD Cowen cut their price target on Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday. Susquehanna upped their target price on Baker Hughes from $46.00 to $48.00 and gave the company a "positive" rating in a research note on Thursday, October 24th. Argus raised Baker Hughes from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Piper Sandler started coverage on shares of Baker Hughes in a research note on Thursday, December 19th. They set an "overweight" rating and a $53.00 price objective for the company. Finally, Citigroup increased their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.18.
Get Our Latest Report on BKR
Baker Hughes Stock Up 0.1 %
Shares of BKR stock traded up $0.04 on Wednesday, hitting $43.44. The stock had a trading volume of 4,992,718 shares, compared to its average volume of 5,716,402. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17. The firm has a market capitalization of $42.99 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 0.72 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The stock's 50 day moving average is $41.94 and its 200-day moving average is $37.81.
Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.21 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company's revenue was up 4.0% compared to the same quarter last year. As a group, research analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.
Baker Hughes Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's payout ratio is currently 37.67%.
About Baker Hughes
(
Free Report)
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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