Journey Strategic Wealth LLC Has $258,000 Stock Holdings in Baker Hughes (NASDAQ:BKR)

Journey Strategic Wealth LLC cut its holdings in Baker Hughes (NASDAQ:BKR) by 19.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,282 shares of the company’s stock after selling 1,551 shares during the period. Journey Strategic Wealth LLC’s holdings in Baker Hughes were worth $258,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in shares of Baker Hughes during the 3rd quarter worth about $30,000. True Wealth Design LLC increased its position in Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after buying an additional 829 shares during the last quarter. Continuum Advisory LLC increased its position in Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the last quarter. Eastern Bank increased its position in Baker Hughes by 598.4% during the fourth quarter. Eastern Bank now owns 1,739 shares of the company’s stock worth $71,000 after buying an additional 1,490 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Baker Hughes during the 3rd quarter worth approximately $103,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Trading Up 2.6 %

Shares of Baker Hughes stock opened at $47.40 on Tuesday. The company has a market capitalization of $46.90 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 0.89 and a beta of 1.39. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $47.60. The firm’s 50-day moving average price is $43.03 and its two-hundred day moving average price is $39.12.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data 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 net margin of 10.70% and a return on equity of 14.58%. On average, analysts forecast that Baker Hughes will post 2.55 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 28.19%.

Insiders Place Their Bets

In related news, EVP Maria C. Borras sold 8,000 shares of the 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 transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BKR shares. The Goldman Sachs Group boosted their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group upped their price objective 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. Citigroup upped their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Benchmark reiterated a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their target price on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

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.