First Trust Advisors LP Grows Stock Holdings in Baker Hughes (NASDAQ:BKR)

First Trust Advisors LP lifted its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,151,579 shares of the company's stock after acquiring an additional 71,017 shares during the quarter. First Trust Advisors LP owned 0.12% of Baker Hughes worth $47,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKR. Strategic Financial Concepts LLC purchased a new stake in shares of Baker Hughes during the fourth quarter worth about $640,000. Burney Co. raised its holdings in shares of Baker Hughes by 315.0% during the fourth quarter. Burney Co. now owns 138,788 shares of the company's stock valued at $5,693,000 after acquiring an additional 105,349 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Baker Hughes by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after purchasing an additional 465,832 shares during the period. Northstar Advisory Group LLC purchased a new stake in Baker Hughes in the fourth quarter worth about $1,180,000. Finally, Artemis Investment Management LLP boosted its position in Baker Hughes by 29.4% during the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock valued at $43,233,000 after acquiring an additional 239,773 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Down 0.7 %

BKR traded down $0.25 on Tuesday, hitting $35.96. The company had a trading volume of 1,298,686 shares, compared to its average volume of 6,878,482. The stock has a market capitalization of $35.61 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 2.00 and a beta of 1.08. The stock has a fifty day moving average price of $41.17 and a 200-day moving average price of $42.09. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. Analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.56%. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BKR. Jefferies Financial Group raised their target price on Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. TD Securities reduced their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Piper Sandler decreased their price target on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus set a $50.00 price objective on shares of Baker Hughes and gave the stock a "buy" rating in a research note on Thursday. Finally, Citigroup decreased their target price on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $49.11.

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.