Graypoint LLC Purchases 429 Shares of Baker Hughes (NASDAQ:BKR)

Graypoint LLC grew its position in shares of Baker Hughes (NASDAQ:BKR) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,717 shares of the company’s stock after buying an additional 429 shares during the period. Graypoint LLC’s holdings in Baker Hughes were worth $440,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its stake in shares of Baker Hughes by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 22,200 shares of the company’s stock valued at $911,000 after buying an additional 545 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Baker Hughes by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 40,525 shares of the company’s stock valued at $1,662,000 after acquiring an additional 475 shares in the last quarter. First Hawaiian Bank lifted its position in shares of Baker Hughes by 7.9% during the 4th quarter. First Hawaiian Bank now owns 94,163 shares of the company’s stock valued at $3,863,000 after acquiring an additional 6,891 shares during the period. Nordea Investment Management AB grew its holdings in shares of Baker Hughes by 4.8% during the 4th quarter. Nordea Investment Management AB now owns 1,810,915 shares of the company’s stock worth $74,592,000 after purchasing an additional 83,266 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Baker Hughes by 41.1% in the fourth quarter. GAMMA Investing LLC now owns 10,286 shares of the company’s stock worth $422,000 after purchasing an additional 2,998 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $43.26 on Friday. The stock has a market cap of $42.81 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 0.72 and a beta of 1.39. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17. The company’s fifty day moving average is $42.28 and its 200 day moving average is $37.97. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 EPS. Sell-side analysts forecast that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.94%. Baker Hughes’s dividend payout ratio (DPR) is currently 37.67%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Benchmark reiterated a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. UBS Group lowered their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Stifel Nicolaus raised their target price on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Citigroup lifted their price target on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.18.

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.