Baker Hughes (NASDAQ:BKR) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its holdings in shares of Baker Hughes (NASDAQ:BKR) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 782,884 shares of the company’s stock after selling 53,272 shares during the quarter. Fisher Asset Management LLC owned about 0.08% of Baker Hughes worth $32,114,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. SVB Wealth LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth approximately $440,000. Flputnam Investment Management Co. lifted its position in Baker Hughes by 0.7% during the fourth quarter. Flputnam Investment Management Co. now owns 136,043 shares of the company’s stock worth $5,580,000 after buying an additional 990 shares in the last quarter. Dynasty Wealth Management LLC lifted its position in Baker Hughes by 2.7% during the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after buying an additional 207 shares in the last quarter. Private Trust Co. NA boosted its stake in Baker Hughes by 81.9% during the fourth quarter. Private Trust Co. NA now owns 2,830 shares of the company’s stock worth $116,000 after buying an additional 1,274 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in Baker Hughes by 8.1% in the 4th quarter. QRG Capital Management Inc. now owns 45,598 shares of the company’s stock valued at $1,870,000 after buying an additional 3,423 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 2.3 %

Shares of NASDAQ:BKR opened at $44.59 on Monday. The company has a market cap of $44.15 billion, a PE ratio of 14.96, a P/E/G ratio of 2.00 and a beta of 1.39. The company’s 50 day moving average is $44.62 and its two-hundred day moving average is $40.57. Baker Hughes has a 52 week low of $29.30 and a 52 week high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last posted its earnings results 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 return on equity of 14.58% and a net margin of 10.70%. Equities analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is 30.87%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI boosted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Bank of America increased 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. Royal Bank of Canada lifted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Susquehanna upped their price objective on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

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.