Rhumbline Advisers Grows Stock Holdings in Baker Hughes (NASDAQ:BKR)

Rhumbline Advisers grew its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,675,340 shares of the company's stock after purchasing an additional 39,290 shares during the period. Rhumbline Advisers owned approximately 0.17% of Baker Hughes worth $68,722,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. New York State Teachers Retirement System boosted its stake in shares of Baker Hughes by 2.0% during the 4th quarter. New York State Teachers Retirement System now owns 832,481 shares of the company's stock worth $34,148,000 after purchasing an additional 16,715 shares during the period. Supplemental Annuity Collective Trust of NJ bought a new stake in Baker Hughes in the fourth quarter worth about $205,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Baker Hughes during the fourth quarter valued at approximately $205,000. Avestar Capital LLC boosted its position in shares of Baker Hughes by 11.0% during the fourth quarter. Avestar Capital LLC now owns 7,844 shares of the company's stock valued at $322,000 after buying an additional 775 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Baker Hughes by 0.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company's stock valued at $230,271,000 after buying an additional 45,324 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. The Goldman Sachs Group boosted their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Stifel Nicolaus upped their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Evercore ISI lifted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. Finally, Barclays boosted their price objective on shares of Baker Hughes from $51.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $51.06.

Insider Activity

In related 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 value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares of the company's stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company's stock.

Baker Hughes Stock Up 0.0 %

BKR traded up $0.02 on Thursday, hitting $46.91. The company had a trading volume of 4,671,886 shares, compared to its average volume of 7,517,481. The stock has a market capitalization of $46.45 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 2.06 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a fifty day moving average price of $44.11 and a 200-day moving average price of $40.04. Baker Hughes has a 12-month low of $28.88 and a 12-month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data 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%. Analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, February 11th. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.96%. Baker Hughes's dividend payout ratio is presently 30.87%.

About Baker Hughes

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.