Apollon Wealth Management LLC Boosts Stock Holdings in Baker Hughes (NASDAQ:BKR)

Apollon Wealth Management LLC grew its position in shares of Baker Hughes (NASDAQ:BKR) by 13.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 27,058 shares of the company’s stock after buying an additional 3,227 shares during the period. Apollon Wealth Management LLC’s holdings in Baker Hughes were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Bridges Investment Management Inc. increased its holdings in shares of Baker Hughes by 3.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after purchasing an additional 273 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of Baker Hughes by 1.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after purchasing an additional 295 shares in the last quarter. Graypoint LLC increased its holdings in shares of Baker Hughes by 3.0% during the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after purchasing an additional 301 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Baker Hughes by 1.8% during the 4th quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company’s stock valued at $861,000 after purchasing an additional 380 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its holdings in shares of Baker Hughes by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after purchasing an additional 398 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BKR shares. Evercore ISI lifted their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Bank of America lifted their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lifted their price target 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. Benchmark reissued a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a research note on Tuesday. Finally, Jefferies Financial Group lifted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Two equities research 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, the company has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Down 0.6 %

BKR stock opened at $47.11 on Wednesday. The company’s 50 day moving average price is $43.49 and its 200 day moving average price is $39.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a fifty-two week low of $28.63 and a fifty-two week high of $49.40. The firm has a market capitalization of $46.62 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 2.07 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping 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%. On average, equities research analysts anticipate that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.95%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. Baker Hughes’s dividend payout ratio is 28.19%.

About Baker Hughes

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.