RWA Wealth Partners LLC Takes $877,000 Position in Baker Hughes (NASDAQ:BKR)

RWA Wealth Partners LLC acquired a new stake in Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 21,371 shares of the company’s stock, valued at approximately $877,000.

Other institutional investors have also recently bought and sold shares of the company. JFS Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Baker Hughes during the fourth quarter worth $30,000. Larson Financial Group LLC increased its holdings in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares during the last quarter. Finally, Continuum Advisory LLC boosted its holdings in shares of Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after acquiring an additional 796 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insiders Place Their Bets

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

Baker Hughes Stock Performance

NASDAQ:BKR opened at $43.95 on Tuesday. The firm has a market capitalization of $43.52 billion, a P/E ratio of 14.75, a P/E/G ratio of 2.00 and a beta of 1.30. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The company has a fifty day moving average of $44.76 and a 200-day moving average of $41.87. 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 (NASDAQ:BKR) last announced its quarterly earnings data 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 net margin of 10.70% and a return on equity of 14.58%. As a group, sell-side analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.09%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

Analyst Upgrades and Downgrades

Several research firms have commented on BKR. TD Cowen dropped their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Piper Sandler lifted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group raised their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. 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. Finally, Wells Fargo & Company increased their price objective on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.00.

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.