Erste Asset Management GmbH Boosts Stock Holdings in Baker Hughes (NASDAQ:BKR)

Erste Asset Management GmbH grew its holdings in Baker Hughes (NASDAQ:BKR) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,700 shares of the company’s stock after purchasing an additional 950 shares during the quarter. Erste Asset Management GmbH’s holdings in Baker Hughes were worth $1,171,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Strategic Financial Concepts LLC bought a new position in Baker Hughes in the fourth quarter worth approximately $640,000. Burney Co. increased its holdings in shares of Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after acquiring an additional 105,349 shares during the period. Northstar Advisory Group LLC bought a new position in shares of Baker Hughes in the 4th quarter worth $1,180,000. Artemis Investment Management LLP lifted its stake in shares of Baker Hughes by 29.4% during the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after purchasing an additional 239,773 shares during the last quarter. Finally, Czech National Bank boosted its position in Baker Hughes by 6.0% during the fourth quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after purchasing an additional 12,178 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $42.84 on Friday. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The business’s 50 day moving average price is $44.88 and its 200 day moving average price is $41.01. 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 firm has a market cap of $42.42 billion, a P/E ratio of 14.38, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data 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%. On average, sell-side analysts expect that Baker Hughes will post 2.59 earnings per share for the current 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. This represents a $0.92 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is currently 30.87%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Bank of America boosted their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Piper Sandler boosted their price objective 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. Wells Fargo & Company raised their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group upped their price target on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Susquehanna raised their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.06.

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.