Navellier & Associates Inc. Takes Position in Baker Hughes (NASDAQ:BKR)

Navellier & Associates Inc. acquired a new stake in Baker Hughes (NASDAQ:BKR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 73,651 shares of the company’s stock, valued at approximately $3,021,000.

Other hedge funds have also recently modified their holdings of the company. JFS Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes in the third quarter valued at about $30,000. True Wealth Design LLC grew its holdings in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the period. Groupama Asset Managment grew its holdings in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after purchasing an additional 811,711 shares during the period. Finally, Continuum Advisory LLC boosted its stake in Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 2.7 %

Shares of NASDAQ:BKR opened at $45.62 on Friday. The firm’s 50 day moving average price is $44.28 and its 200 day moving average price is $40.16. The stock has a market cap of $45.17 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. Baker Hughes has a fifty-two week low of $28.88 and a fifty-two week high of $49.40. 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 (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. As a group, equities research analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. This is a boost 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 yield of 2.02%. Baker Hughes’s dividend payout ratio (DPR) is 30.87%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BKR has been the subject of several research analyst reports. Royal Bank of Canada increased their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Jefferies Financial Group increased their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Benchmark reaffirmed a “buy” rating and set a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Piper Sandler increased their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $51.06.

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.