Baker Hughes (NASDAQ:BKR) Holdings Decreased by Van ECK Associates Corp

Van ECK Associates Corp lowered its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,664,610 shares of the company's stock after selling 936,216 shares during the period. Van ECK Associates Corp owned 0.47% of Baker Hughes worth $191,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. CWM LLC grew its position in Baker Hughes by 56.4% during the third quarter. CWM LLC now owns 48,422 shares of the company's stock valued at $1,750,000 after buying an additional 17,467 shares during the period. Exchange Traded Concepts LLC grew its position in Baker Hughes by 93.6% during the third quarter. Exchange Traded Concepts LLC now owns 19,522 shares of the company's stock valued at $706,000 after buying an additional 9,440 shares during the period. Creative Planning grew its position in Baker Hughes by 12.3% during the third quarter. Creative Planning now owns 69,572 shares of the company's stock valued at $2,515,000 after buying an additional 7,596 shares during the period. NBC Securities Inc. acquired a new stake in Baker Hughes during the third quarter valued at $294,000. Finally, Swedbank AB grew its position in Baker Hughes by 24.2% during the third quarter. Swedbank AB now owns 656,571 shares of the company's stock valued at $23,735,000 after buying an additional 128,031 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.25% of the company's stock.

Baker Hughes Trading Up 0.5 %

Shares of Baker Hughes stock traded up $0.25 during mid-day trading on Friday, hitting $46.40. 4,850,154 shares of the stock were exchanged, compared to its average volume of 8,438,286. Baker Hughes has a twelve month low of $28.66 and a twelve month high of $49.40. The stock has a market capitalization of $45.91 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. The company has a 50-day simple moving average of $43.81 and a 200 day simple moving average of $39.84. 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 (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. Research analysts forecast that Baker Hughes will post 2.57 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Tuesday, February 11th. Baker Hughes's dividend payout ratio is presently 28.19%.

Analyst Upgrades and Downgrades

BKR has been the topic of several research analyst reports. Royal Bank of Canada lifted their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Argus upgraded shares of Baker Hughes from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Evercore ISI raised their price target on shares of 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 lifted 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. Finally, Wells Fargo & Company boosted their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.06.

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.