Bleakley Financial Group LLC Grows Stock Position in Baker Hughes (NASDAQ:BKR)

Bleakley Financial Group LLC raised its holdings in shares of Baker Hughes (NASDAQ:BKR) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,984 shares of the company’s stock after acquiring an additional 380 shares during the quarter. Bleakley Financial Group LLC’s holdings in Baker Hughes were worth $861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Massachusetts Wealth Management increased its stake in shares of Baker Hughes by 230.3% during the 4th quarter. Massachusetts Wealth Management now owns 29,475 shares of the company’s stock worth $1,209,000 after purchasing an additional 20,550 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Baker Hughes by 11.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 311,693 shares of the company’s stock worth $11,625,000 after buying an additional 30,906 shares in the last quarter. Paragon Capital Management Inc. raised its holdings in shares of Baker Hughes by 29.2% in the fourth quarter. Paragon Capital Management Inc. now owns 28,475 shares of the company’s stock worth $1,168,000 after acquiring an additional 6,444 shares during the last quarter. Ninety One UK Ltd raised its holdings in shares of Baker Hughes by 11.9% in the fourth quarter. Ninety One UK Ltd now owns 481,446 shares of the company’s stock worth $19,749,000 after acquiring an additional 51,212 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Baker Hughes by 47.7% in the fourth quarter. Mather Group LLC. now owns 12,538 shares of the company’s stock valued at $514,000 after acquiring an additional 4,051 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Down 1.7 %

BKR opened at $46.20 on Monday. The company has a market cap of $45.72 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. 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 1 year low of $28.63 and a 1 year high of $49.40. The firm has a 50 day moving average price of $43.42 and a 200 day moving average price of $39.50.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 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%. Sell-side analysts expect that Baker Hughes will post 2.57 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be given a $0.23 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.99%. Baker Hughes’s dividend payout ratio is presently 28.19%.

Analysts Set New Price Targets

A number of analysts recently commented on BKR shares. Barclays lifted their price objective on Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Bank of America lifted their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Evercore ISI upped their price objective 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. Susquehanna lifted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company increased their price target on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.18.

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.