Vestmark Advisory Solutions Inc. purchased a new position in Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 60,966 shares of the company's stock, valued at approximately $2,501,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Financial Concepts LLC purchased a new position in Baker Hughes during the fourth quarter valued at $640,000. Burney Co. lifted its position in Baker Hughes by 315.0% during the fourth quarter. Burney Co. now owns 138,788 shares of the company's stock valued at $5,693,000 after purchasing an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC purchased a new position in Baker Hughes during the fourth quarter valued at $1,180,000. Artemis Investment Management LLP lifted its position in Baker Hughes by 29.4% during the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock valued at $43,233,000 after purchasing an additional 239,773 shares in the last quarter. Finally, Czech National Bank lifted its position in Baker Hughes by 6.0% during the fourth quarter. Czech National Bank now owns 214,549 shares of the company's stock valued at $8,801,000 after purchasing an additional 12,178 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Baker Hughes
In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company's stock.
Analysts Set New Price Targets
BKR has been the topic of several analyst reports. Bank of America lifted their target price on Baker Hughes from $42.00 to $48.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Wells Fargo & Company raised their price target on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. TD Cowen decreased their price target on Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Benchmark reissued a "buy" rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Finally, Evercore ISI raised their price target on Baker Hughes from $46.00 to $52.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $51.06.
View Our Latest Analysis on BKR
Baker Hughes Price Performance
Shares of BKR stock traded up $0.99 during trading hours on Friday, hitting $42.89. The stock had a trading volume of 9,116,402 shares, compared to its average volume of 6,279,988. Baker Hughes has a one year low of $30.52 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock's 50-day moving average price is $44.82 and its two-hundred day moving average price is $40.85. The stock has a market capitalization of $42.47 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 2.00 and a beta of 1.30.
Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping 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%. Equities analysts forecast that Baker Hughes will post 2.59 EPS for the current year.
Baker Hughes Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.15%. 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%.
About Baker Hughes
(
Free Report)
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.
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