6,184 Shares in Baker Hughes (NASDAQ:BKR) Acquired by Baxter Bros Inc.

Baxter Bros Inc. bought a new position in Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,184 shares of the company’s stock, valued at approximately $254,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC increased its position in Baker Hughes by 1,495.9% in the 4th quarter. Ashton Thomas Securities LLC now owns 13,374 shares of the company’s stock valued at $549,000 after acquiring an additional 12,536 shares during the period. Minneapolis Portfolio Management Group LLC lifted its holdings in Baker Hughes by 1.1% in the fourth quarter. Minneapolis Portfolio Management Group LLC now owns 581,742 shares of the company’s stock worth $23,863,000 after purchasing an additional 6,383 shares during the period. Angeles Investment Advisors LLC grew its position in Baker Hughes by 2.5% in the 4th quarter. Angeles Investment Advisors LLC now owns 14,830 shares of the company’s stock valued at $608,000 after buying an additional 368 shares in the last quarter. Congress Wealth Management LLC DE acquired a new position in Baker Hughes during the 4th quarter valued at about $13,804,000. Finally, LPL Financial LLC increased its stake in Baker Hughes by 57.7% during the 4th quarter. LPL Financial LLC now owns 289,414 shares of the company’s stock valued at $11,872,000 after buying an additional 105,878 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In related 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 transaction, the executive vice president now owns 173,302 shares in the company, 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 filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $44.60 on Tuesday. The stock has a market cap of $44.16 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $44.96 and a 200-day simple moving average of $41.50.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. On average, sell-side analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a $0.23 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.06%. Baker Hughes’s dividend payout ratio is presently 30.87%.

Wall Street Analyst Weigh In

BKR has been the subject of several recent analyst reports. Jefferies Financial Group increased 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. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Benchmark reissued a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. Evercore ISI raised their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.