Zurcher Kantonalbank Zurich Cantonalbank Has $19.73 Million Holdings in Baker Hughes (NASDAQ:BKR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 480,851 shares of the company's stock after acquiring an additional 44,196 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Baker Hughes were worth $19,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in Baker Hughes in the 4th quarter valued at $291,289,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company's stock valued at $394,775,000 after purchasing an additional 2,811,940 shares in the last quarter. Congress Asset Management Co. acquired a new position in shares of Baker Hughes during the fourth quarter worth about $107,155,000. Yaupon Capital Management LP bought a new position in shares of Baker Hughes during the third quarter worth about $47,296,000. Finally, Eagle Asset Management Inc. grew its holdings in shares of Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company's stock worth $198,326,000 after buying an additional 860,219 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

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 dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value 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. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of recent research reports. Stifel Nicolaus upped their price target on Baker Hughes from $48.00 to $54.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Atb Cap Markets cut shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Benchmark reiterated a "buy" rating and issued a $57.00 price target on shares of Baker Hughes in a research note on Tuesday, February 11th. Citigroup increased their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, Piper Sandler lifted their target price on Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.06.

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Baker Hughes Price Performance

Shares of BKR opened at $41.85 on Wednesday. The company's 50-day moving average is $44.84 and its 200-day moving average is $40.94. 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 firm has a market capitalization of $41.44 billion, a PE ratio of 14.04, a PEG ratio of 2.00 and a beta of 1.30. 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 issued its quarterly earnings data 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%. Equities analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.20%. Baker Hughes's payout ratio is 30.87%.

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.

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