Paradigm Asset Management Co. LLC Purchases Shares of 16,000 Baker Hughes (NASDAQ:BKR)

Paradigm Asset Management Co. LLC purchased a new stake in Baker Hughes (NASDAQ:BKR) in the 4th quarter, HoldingsChannel reports. The fund purchased 16,000 shares of the company’s stock, valued at approximately $656,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BKR. Cromwell Holdings LLC grew its position in Baker Hughes by 9.3% during the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock valued at $130,000 after buying an additional 269 shares during the period. First Bank & Trust purchased a new stake in Baker Hughes in the fourth quarter worth $257,000. Ieq Capital LLC lifted its position in shares of Baker Hughes by 79.6% during the 4th quarter. Ieq Capital LLC now owns 122,591 shares of the company’s stock valued at $5,029,000 after buying an additional 54,322 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Baker Hughes by 94.2% during the 4th quarter. Private Advisor Group LLC now owns 17,658 shares of the company’s stock worth $724,000 after acquiring an additional 8,565 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in Baker Hughes by 216.2% in the 4th quarter. Global Retirement Partners LLC now owns 13,024 shares of the company’s stock worth $534,000 after acquiring an additional 8,905 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Performance

NASDAQ BKR opened at $45.62 on Friday. The firm has a market cap of $45.17 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.06 and a beta of 1.39. The company has a 50-day simple moving average of $44.28 and a two-hundred day simple moving average of $40.16. 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 $28.88 and a 12-month high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued 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, equities analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.02%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is presently 30.87%.

Analyst Ratings Changes

Several equities research analysts have commented on BKR shares. 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. JPMorgan Chase & Co. lifted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their price target on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Barclays increased their price objective on Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Evercore ISI boosted 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. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $51.06.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.