Groupama Asset Managment Buys 167,985 Shares of Baker Hughes (NASDAQ:BKR)

Groupama Asset Managment increased its stake in Baker Hughes (NASDAQ:BKR) by 18.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,057,363 shares of the company’s stock after purchasing an additional 167,985 shares during the quarter. Groupama Asset Managment’s holdings in Baker Hughes were worth $43,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BKR. Geode Capital Management LLC grew its holdings in Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock worth $1,004,212,000 after purchasing an additional 465,832 shares during the period. Norges Bank bought a new position in shares of Baker Hughes during the 4th quarter worth approximately $829,092,000. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after acquiring an additional 2,811,940 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Baker Hughes during the 4th quarter worth approximately $291,289,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Baker Hughes by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock valued at $290,705,000 after acquiring an additional 135,200 shares during the period. 92.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Stock Up 2.0 %

Shares of NASDAQ BKR opened at $43.95 on Tuesday. The stock has a market capitalization of $43.52 billion, a P/E ratio of 14.75, a PEG ratio of 2.00 and a beta of 1.30. The stock’s fifty day moving average is $44.76 and its 200 day moving average is $41.87. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last released its 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 net margin of 10.70% and a return on equity of 14.58%. Sell-side analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed 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 is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.09%. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s payout ratio is currently 30.87%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group upped their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Barclays cut their price objective on shares of Baker Hughes from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Monday. Stifel Nicolaus boosted their price objective on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Benchmark reiterated a “buy” rating and set a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Two equities 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Baker Hughes Company 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.