Resona Asset Management Co. Ltd. Makes New Investment in Baker Hughes (NASDAQ:BKR)

Resona Asset Management Co. Ltd. acquired a new position in Baker Hughes (NASDAQ:BKR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 299,635 shares of the company's stock, valued at approximately $12,281,000.

Other hedge funds have also modified their holdings of the company. Strategic Financial Concepts LLC acquired a new position in Baker Hughes in the 4th quarter worth about $640,000. Burney Co. raised its stake in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company's stock worth $5,693,000 after buying an additional 105,349 shares during the period. Geode Capital Management LLC lifted its position in shares of Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock valued at $1,004,212,000 after buying an additional 465,832 shares in the last quarter. Northstar Advisory Group LLC purchased a new stake in Baker Hughes in the 4th quarter worth $1,180,000. Finally, Artemis Investment Management LLP increased its holdings in Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock worth $43,233,000 after acquiring an additional 239,773 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 0.5 %

BKR stock traded up $0.18 during midday trading on Friday, hitting $36.84. 2,696,411 shares of the company's stock were exchanged, compared to its average volume of 6,843,363. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The business has a 50-day simple moving average of $43.43 and a two-hundred day simple moving average of $42.01. The stock has a market capitalization of $36.48 billion, a PE ratio of 12.29, a P/E/G ratio of 2.00 and a beta of 1.08. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

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Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates 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, sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.50%. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio (DPR) is currently 30.87%.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares of the company's stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BKR. Susquehanna boosted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a "positive" rating in a research note on Monday, February 3rd. Jefferies Financial Group increased their target price on Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Citigroup lowered their price target on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday. The Goldman Sachs Group increased their price objective on Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada lifted their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.18.

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.