Sagespring Wealth Partners LLC Invests $523,000 in Baker Hughes (NASDAQ:BKR)

Sagespring Wealth Partners LLC bought a new position in Baker Hughes (NASDAQ:BKR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,752 shares of the company's stock, valued at approximately $523,000.

Several other large investors have also made changes to their positions in BKR. Townsquare Capital LLC grew its stake in Baker Hughes by 8.3% during the fourth quarter. Townsquare Capital LLC now owns 23,345 shares of the company's stock worth $958,000 after buying an additional 1,794 shares during the last quarter. Black Cypress Capital Management LLC grew its position in Baker Hughes by 0.4% during the 4th quarter. Black Cypress Capital Management LLC now owns 103,624 shares of the company's stock worth $4,251,000 after acquiring an additional 373 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Baker Hughes by 20.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 37,591 shares of the company's stock valued at $1,538,000 after purchasing an additional 6,375 shares in the last quarter. Sterling Capital Management LLC raised its position in Baker Hughes by 55.2% in the 4th quarter. Sterling Capital Management LLC now owns 59,529 shares of the company's stock valued at $2,442,000 after purchasing an additional 21,168 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Baker Hughes by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 438,986 shares of the company's stock worth $18,007,000 after purchasing an additional 2,760 shares in the last quarter. Institutional investors own 92.06% of the company's stock.

Baker Hughes Trading Up 1.9 %

Baker Hughes stock traded up $0.73 during midday trading on Friday, hitting $38.86. 5,548,880 shares of the stock were exchanged, compared to its average volume of 6,876,305. The stock has a market capitalization of $38.47 billion, a PE ratio of 13.04, a P/E/G ratio of 2.00 and a beta of 1.08. The company has a fifty day simple moving average of $42.50 and a two-hundred day simple moving average of $42.05. 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 has a 52 week low of $30.93 and a 52 week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly 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%. Equities research analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's payout ratio is 30.87%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm's 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 in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Piper Sandler boosted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. TD Cowen lowered their price target on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, Citigroup reduced their price objective on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Baker Hughes has an average rating of "Moderate Buy" and an average target price of $50.65.

Baker Hughes Company 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.