Allianz SE Invests $1.73 Million in Baker Hughes (NASDAQ:BKR)

Allianz SE acquired a new stake in Baker Hughes (NASDAQ:BKR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 42,149 shares of the company’s stock, valued at approximately $1,726,000.

Several other hedge funds have also recently added to or reduced their stakes in BKR. Transamerica Financial Advisors Inc. purchased a new stake in shares of Baker Hughes during the fourth quarter worth $4,129,000. Allstate Corp purchased a new stake in Baker Hughes during the 4th quarter valued at about $1,209,000. Brown Brothers Harriman & Co. raised its holdings in Baker Hughes by 326.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,824 shares of the company’s stock valued at $75,000 after acquiring an additional 1,396 shares during the last quarter. DnB Asset Management AS lifted its stake in Baker Hughes by 1.7% in the 4th quarter. DnB Asset Management AS now owns 187,832 shares of the company’s stock worth $7,705,000 after purchasing an additional 3,103 shares in the last quarter. Finally, Level Four Advisory Services LLC boosted its holdings in shares of Baker Hughes by 124.8% during the 4th quarter. Level Four Advisory Services LLC now owns 17,225 shares of the company’s stock worth $707,000 after purchasing an additional 9,564 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BKR has been the subject of several recent research reports. TD Cowen cut their price target on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Benchmark reiterated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Royal Bank of Canada upped their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, 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 report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.06.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction dated 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 directly owns 173,302 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

BKR opened at $43.08 on Friday. The stock’s 50-day moving average price is $44.81 and its 200 day moving average price is $41.73. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The firm has a market cap of $42.65 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 2.00 and a beta of 1.30. 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) last issued 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%. As a group, sell-side analysts expect 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. Shareholders of record on Tuesday, February 11th were paid a $0.23 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.14%. 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.