Paladin Wealth LLC Buys New Holdings in Baker Hughes (NASDAQ:BKR)

Paladin Wealth LLC acquired a new position in shares of Baker Hughes (NASDAQ:BKR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,125 shares of the company’s stock, valued at approximately $456,000.

Other large investors also recently modified their holdings of the company. Dynamic Advisor Solutions LLC bought a new stake in Baker Hughes in the 3rd quarter valued at about $279,000. CWM LLC grew its position in Baker Hughes by 56.4% in the third quarter. CWM LLC now owns 48,422 shares of the company’s stock valued at $1,750,000 after acquiring an additional 17,467 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Baker Hughes by 543.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,130 shares of the company’s stock worth $402,000 after acquiring an additional 9,400 shares in the last quarter. Ritholtz Wealth Management boosted its position in Baker Hughes by 96.8% in the third quarter. Ritholtz Wealth Management now owns 25,631 shares of the company’s stock valued at $927,000 after buying an additional 12,606 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in shares of Baker Hughes during the 3rd quarter valued at $844,000. 92.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BKR. JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Citigroup boosted their price target on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Barclays raised their price objective on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Stifel Nicolaus boosted their price objective on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group raised their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.18.

Insiders Place Their Bets

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 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 approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

BKR opened at $47.41 on Tuesday. The firm has a 50-day moving average price of $43.42 and a 200-day moving average price of $39.53. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $28.63 and a twelve month high of $49.40. The company has a market capitalization of $46.91 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 2.07 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 expect 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 an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, February 11th. Baker Hughes’s payout ratio is currently 30.87%.

About Baker Hughes

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.