Raymond James Financial Inc. Takes $291.29 Million Position in Baker Hughes (NASDAQ:BKR)

Raymond James Financial Inc. purchased a new position in Baker Hughes (NASDAQ:BKR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,101,145 shares of the company's stock, valued at approximately $291,289,000. Raymond James Financial Inc. owned about 0.72% of Baker Hughes at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new position in shares of Baker Hughes in the fourth quarter worth $640,000. Burney Co. raised its holdings in shares of 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 purchasing an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC purchased a new position in shares of Baker Hughes during the fourth quarter worth $1,180,000. Artemis Investment Management LLP raised its holdings in shares of Baker Hughes by 29.4% during the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock worth $43,233,000 after purchasing an additional 239,773 shares during the last quarter. Finally, Czech National Bank raised its holdings in shares of Baker Hughes by 6.0% during the fourth quarter. Czech National Bank now owns 214,549 shares of the company's stock worth $8,801,000 after purchasing an additional 12,178 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Atb Cap Markets cut shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Benchmark reissued a "buy" rating and set a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. Royal Bank of Canada raised their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. 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, Wells Fargo & Company raised their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.06.

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Insider Buying and Selling

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 transaction of $358,160.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded up $0.99 during trading on Friday, hitting $42.89. The company had a trading volume of 9,116,402 shares, compared to its average volume of 6,279,988. The stock has a fifty day simple moving average of $44.82 and a two-hundred day simple moving average of $40.85. Baker Hughes has a fifty-two week low of $30.52 and a fifty-two week high of $49.40. The firm has a market capitalization of $42.47 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, research analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.15%. Baker Hughes's payout ratio is presently 30.87%.

Baker Hughes 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.