TCW Group Inc. Raises Stock Holdings in Baker Hughes (NASDAQ:BKR)

TCW Group Inc. boosted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 11.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,692,456 shares of the company’s stock after purchasing an additional 179,918 shares during the period. TCW Group Inc.’s holdings in Baker Hughes were worth $69,425,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Navellier & Associates Inc. purchased a new position in shares of Baker Hughes in the fourth quarter valued at approximately $3,021,000. Paradigm Asset Management Co. LLC purchased a new position in shares of Baker Hughes in the fourth quarter valued at approximately $656,000. Cromwell Holdings LLC lifted its position in shares of Baker Hughes by 9.3% in the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock valued at $130,000 after acquiring an additional 269 shares in the last quarter. First Bank & Trust purchased a new position in shares of Baker Hughes in the fourth quarter valued at approximately $257,000. Finally, Ieq Capital LLC lifted its position in shares of Baker Hughes by 79.6% in the fourth quarter. Ieq Capital LLC now owns 122,591 shares of the company’s stock valued at $5,029,000 after acquiring an additional 54,322 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Benchmark restated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Bank of America increased their price target on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Royal Bank of Canada increased 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. Evercore ISI increased 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, Susquehanna increased their price target on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.06.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

BKR stock opened at $45.62 on Friday. The business has a fifty day moving average of $44.28 and a two-hundred day moving average of $40.21. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. 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 52-week low of $28.88 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS 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%. As a group, research analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is currently 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.