Generali Asset Management SPA SGR purchased a new position in Baker Hughes (NASDAQ:BKR – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 190,730 shares of the company’s stock, valued at approximately $7,824,000.
A number of other institutional investors have also recently made changes to their positions in BKR. Raymond James Financial Inc. acquired a new stake in shares of Baker Hughes in the fourth quarter worth approximately $291,289,000. Hotchkis & Wiley Capital Management LLC boosted its stake in Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after buying an additional 2,811,940 shares during the last quarter. Congress Asset Management Co. acquired a new position in Baker Hughes during the fourth quarter worth $107,155,000. Yaupon Capital Management LP acquired a new position in Baker Hughes during the third quarter worth $47,296,000. Finally, Natixis Advisors LLC boosted its stake in Baker Hughes by 217.5% during the fourth quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock worth $70,901,000 after buying an additional 1,184,036 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on BKR shares. Royal Bank of Canada boosted their price objective on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. The Goldman Sachs Group boosted their price objective on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Piper Sandler boosted their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Stifel Nicolaus lifted their target price on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Bank of America lifted their target price on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $51.06.
Insiders Place Their Bets
In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by company insiders.
Baker Hughes Price Performance
Shares of NASDAQ BKR opened at $43.88 on Tuesday. The stock’s 50-day moving average is $44.90 and its two-hundred day moving average is $41.15. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The company has a market cap of $43.45 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30.
Baker Hughes (NASDAQ:BKR – Get Free Report) last issued 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%. Analysts forecast 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 issued 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 was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.10%. Baker Hughes’s dividend payout ratio is 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.
Featured Stories
- Five stocks we like better than Baker Hughes
- Most Volatile Stocks, What Investors Need to Know
- ARK Innovation Fund Bets Big on Bitcoin—Will It Pay Off?
- Using the MarketBeat Stock Split Calculator
- Can TikTok Stock Picks Really Make You Rich?
- 5 Top Rated Dividend Stocks to Consider
- The “Quality” Rotation: Back to Basics Investing
Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes (NASDAQ:BKR – Free Report).
Receive News & Ratings for Baker Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes and related companies with MarketBeat.com's FREE daily email newsletter.