Resonant Capital Advisors LLC Makes New Investment in Baker Hughes (NASDAQ:BKR)

Resonant Capital Advisors LLC bought 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 and Exchange Commission. The institutional investor bought 5,506 shares of the company's stock, valued at approximately $226,000.

A number of other institutional investors also recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Baker Hughes during the 3rd quarter worth $30,000. True Wealth Design LLC raised its holdings in Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after buying an additional 829 shares in the last quarter. Continuum Advisory LLC lifted its position in shares of Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company's stock worth $35,000 after buying an additional 796 shares during the last quarter. Eastern Bank boosted its stake in shares of Baker Hughes by 598.4% during the 4th quarter. Eastern Bank now owns 1,739 shares of the company's stock worth $71,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Baker Hughes in the 3rd quarter valued at approximately $103,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Insider Buying and Selling

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Price Performance

Baker Hughes stock traded down $0.78 during mid-day trading on Friday, hitting $46.20. 7,669,328 shares of the company were exchanged, compared to its average volume of 8,200,664. Baker Hughes has a 1-year low of $28.63 and a 1-year high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $43.37 and a 200 day moving average of $39.40. The company has a market capitalization of $45.72 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

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, topping analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, sell-side analysts expect that Baker Hughes will post 2.55 earnings per share for the current year.

Baker Hughes Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday. Benchmark restated a "buy" rating and set a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Bank of America lifted their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Stifel Nicolaus raised their target price on Baker Hughes from $48.00 to $54.00 and gave the company a "buy" rating in a report on Monday. Finally, Atb Cap Markets cut Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and an average price target of $50.18.

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.