Baker Hughes (NASDAQ:BKR) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Baker Hughes (NASDAQ:BKR) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,656,467 shares of the company’s stock after purchasing an additional 124,937 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Baker Hughes were worth $70,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. increased its position in Baker Hughes by 38.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 74,409 shares of the company’s stock valued at $3,052,000 after acquiring an additional 20,724 shares during the period. Baxter Bros Inc. bought a new stake in shares of Baker Hughes during the fourth quarter valued at about $254,000. Ashton Thomas Securities LLC lifted its holdings in Baker Hughes by 1,495.9% in the fourth quarter. Ashton Thomas Securities LLC now owns 13,374 shares of the company’s stock worth $549,000 after purchasing an additional 12,536 shares during the period. Minneapolis Portfolio Management Group LLC increased its stake in Baker Hughes by 1.1% during the 4th quarter. Minneapolis Portfolio Management Group LLC now owns 581,742 shares of the company’s stock valued at $23,863,000 after buying an additional 6,383 shares during the period. Finally, Angeles Investment Advisors LLC raised its position in shares of Baker Hughes by 2.5% during the 4th quarter. Angeles Investment Advisors LLC now owns 14,830 shares of the company’s stock worth $608,000 after buying an additional 368 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ BKR opened at $43.08 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The firm has a market capitalization of $42.65 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The company has a 50 day simple moving average of $44.81 and a 200-day simple moving average of $41.67. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. 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 declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.14%. Baker Hughes’s dividend payout ratio (DPR) is 30.87%.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on Monday, January 27th. The shares were 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 directly owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BKR has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Benchmark reiterated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. Bank of America upped their price objective on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Piper Sandler lifted their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group upped their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Baker Hughes presently 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.