Principal Financial Group Inc. lowered its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,156,469 shares of the company's stock after selling 21,408 shares during the period. Principal Financial Group Inc. owned 0.12% of Baker Hughes worth $47,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JFS Wealth Advisors LLC increased its stake in Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after acquiring an additional 386 shares during the last quarter. Nkcfo LLC bought a new stake in Baker Hughes in the fourth quarter worth $839,000. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Baker Hughes in the 4th quarter worth about $7,785,000. Secured Retirement Advisors LLC bought a new stake in shares of Baker Hughes in the 4th quarter worth about $1,025,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Baker Hughes in the 4th quarter worth about $640,000. Institutional investors own 92.06% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Evercore ISI boosted their target price on Baker Hughes from $46.00 to $52.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. Susquehanna upped their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a report on Monday, February 3rd. Benchmark reiterated a "buy" rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Piper Sandler upped their target price on Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Bank of America upped their price objective on Baker Hughes from $42.00 to $48.00 and gave the company 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 issued a buy rating to the stock. According to MarketBeat.com, Baker Hughes presently has a consensus rating of "Moderate Buy" and an average price target of $51.06.
Check Out Our Latest Stock Report on Baker Hughes
Insider Activity
In related news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.25% of the company's stock.
Baker Hughes Trading Down 2.7 %
Baker Hughes stock traded down $1.29 during trading on Friday, reaching $45.62. 7,898,740 shares of the company were exchanged, compared to its average volume of 7,528,701. Baker Hughes has a 52-week low of $28.88 and a 52-week high of $49.40. The company has a market capitalization of $45.17 billion, a P/E ratio of 15.31, a PEG ratio of 2.06 and a beta of 1.39. 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 $44.21 and its two-hundred day simple moving average is $40.09.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping 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%. On average, equities research analysts expect that Baker Hughes will post 2.59 earnings per share for the current fiscal year.
Baker Hughes Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Tuesday, February 11th. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's payout ratio is presently 30.87%.
Baker Hughes Company Profile
(
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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