Avitas Wealth Management LLC Cuts Position in Baker Hughes (NASDAQ:BKR)

Avitas Wealth Management LLC reduced its stake in shares of Baker Hughes (NASDAQ:BKR) by 2.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,441 shares of the company’s stock after selling 231 shares during the period. Avitas Wealth Management LLC’s holdings in Baker Hughes were worth $387,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BKR. Ninety One UK Ltd raised its stake in shares of Baker Hughes by 11.9% during the 4th quarter. Ninety One UK Ltd now owns 481,446 shares of the company’s stock worth $19,749,000 after buying an additional 51,212 shares during the last quarter. Mather Group LLC. raised its position in Baker Hughes by 47.7% during the fourth quarter. Mather Group LLC. now owns 12,538 shares of the company’s stock worth $514,000 after acquiring an additional 4,051 shares during the last quarter. Resonant Capital Advisors LLC purchased a new stake in shares of Baker Hughes in the fourth quarter valued at about $226,000. JB Capital LLC lifted its holdings in shares of Baker Hughes by 4.9% in the fourth quarter. JB Capital LLC now owns 80,602 shares of the company’s stock valued at $3,306,000 after purchasing an additional 3,757 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. grew its position in shares of Baker Hughes by 1.2% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 138,308 shares of the company’s stock valued at $5,662,000 after purchasing an additional 1,653 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the company’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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday. Stifel Nicolaus boosted their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group upped their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. 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. Finally, TD Cowen reduced their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. 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, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.18.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $48.85 on Thursday. The firm has a 50-day moving average of $43.20 and a two-hundred day moving average of $39.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock has a market cap of $48.34 billion, a P/E ratio of 16.39, a PEG ratio of 0.89 and a beta of 1.39. Baker Hughes has a 1-year low of $28.63 and a 1-year high of $48.94.

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

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. 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. This represents a $0.92 annualized dividend and a yield of 1.88%. Baker Hughes’s dividend payout ratio (DPR) is 28.19%.

Baker Hughes Company 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.