Baker Hughes (NASDAQ:BKR) Shares Bought by Great Lakes Advisors LLC

Great Lakes Advisors LLC boosted its stake in shares of Baker Hughes (NASDAQ:BKR) by 44.6% in the fourth quarter, Holdings Channel reports. The fund owned 96,104 shares of the company’s stock after purchasing an additional 29,627 shares during the period. Great Lakes Advisors LLC’s holdings in Baker Hughes were worth $3,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position in Baker Hughes by 12.3% during the 4th quarter. Farther Finance Advisors LLC now owns 4,012 shares of the company’s stock worth $165,000 after acquiring an additional 438 shares during the period. HighTower Advisors LLC lifted its position in Baker Hughes by 13.1% during the 4th quarter. HighTower Advisors LLC now owns 661,180 shares of the company’s stock worth $27,122,000 after acquiring an additional 76,470 shares during the period. Moors & Cabot Inc. lifted its position in Baker Hughes by 2.9% during the 4th quarter. Moors & Cabot Inc. now owns 54,322 shares of the company’s stock worth $2,228,000 after acquiring an additional 1,522 shares during the period. Sage Mountain Advisors LLC acquired a new stake in Baker Hughes during the 4th quarter worth approximately $264,000. Finally, Independent Advisor Alliance acquired a new stake in Baker Hughes during the 4th quarter worth approximately $238,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BKR shares. Benchmark reissued a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Royal Bank of Canada raised their price target on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. TD Cowen reduced 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. Evercore ISI raised their price target on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Finally, Jefferies Financial Group raised their price target on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Stock Performance

Baker Hughes stock opened at $42.84 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a fifty day moving average of $44.88 and a two-hundred day moving average of $41.01. The company has a market capitalization of $42.42 billion, a price-to-earnings ratio of 14.38, 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) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.15%. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on 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 $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.

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.