Sterling Capital Management LLC Has $2.44 Million Holdings in Baker Hughes (NASDAQ:BKR)

Sterling Capital Management LLC lifted its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 55.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,529 shares of the company's stock after purchasing an additional 21,168 shares during the quarter. Sterling Capital Management LLC's holdings in Baker Hughes were worth $2,442,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its position in Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after purchasing an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Baker Hughes during the fourth quarter worth approximately $30,000. Larson Financial Group LLC lifted its position in shares of Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after buying an additional 216 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth approximately $45,000. Finally, OFI Invest Asset Management acquired a new stake in Baker Hughes during the 4th quarter valued at $47,000. Institutional investors own 92.06% of the company's stock.

Insider Buying and Selling

In other Baker Hughes 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 completion of the sale, the executive vice president now owns 173,302 shares of the company's stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Benchmark reissued a "buy" rating and issued a $57.00 price objective on shares of Baker Hughes in a research report on Tuesday, February 11th. Susquehanna reduced their price objective on Baker Hughes from $55.00 to $48.00 and set a "positive" rating for the company in a report on Monday, April 14th. Evercore ISI increased their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Piper Sandler upped their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $50.65.

Baker Hughes Price Performance

Baker Hughes stock traded up $0.73 during mid-day trading on Friday, reaching $38.86. The company had a trading volume of 5,548,880 shares, compared to its average volume of 6,880,953. The business has a fifty day simple moving average of $42.34 and a 200 day simple moving average of $42.06. The company has a market cap of $38.47 billion, a P/E ratio of 13.04, 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. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate 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, equities research analysts predict 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. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's payout ratio is 30.87%.

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.