Tocqueville Asset Management L.P. Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Tocqueville Asset Management L.P. boosted its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,393 shares of the company's stock after buying an additional 5,975 shares during the period. Tocqueville Asset Management L.P.'s holdings in Baker Hughes were worth $3,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in BKR. JFS Wealth Advisors LLC increased its holdings in shares of Baker Hughes by 135.9% in 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 period. SBI Securities Co. Ltd. acquired a new position in shares of Baker Hughes in the fourth quarter valued at about $30,000. Larson Financial Group LLC increased its holdings 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 purchasing an additional 216 shares during the period. True Wealth Design LLC increased its holdings in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after purchasing an additional 829 shares during the period. Finally, Groupama Asset Managment increased its holdings in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock valued at $32,000 after purchasing an additional 811,711 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

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Baker Hughes Price Performance

Shares of NASDAQ BKR traded down $0.58 during midday trading on Friday, hitting $44.11. The stock had a trading volume of 20,138,327 shares, compared to its average volume of 6,281,327. The company has a market capitalization of $43.67 billion, a PE ratio of 14.80, a P/E/G ratio of 2.00 and a beta of 1.30. The stock has a 50 day simple moving average of $44.97 and a 200-day simple moving average of $41.32. Baker Hughes has a 1 year low of $30.93 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.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly 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, sell-side analysts expect 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. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Tuesday, February 11th. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio (DPR) is currently 30.87%.

Wall Street Analysts Forecast Growth

BKR has been the topic of several analyst reports. Piper Sandler raised their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Atb Cap Markets lowered Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Barclays raised their target price on Baker Hughes from $51.00 to $55.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. raised their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Benchmark reaffirmed a "buy" rating and set a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus price target of $51.06.

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 on Monday, January 27th. The stock was 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 $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company's stock.

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.