Northern Trust Corp Acquires 1,553,536 Shares of Baker Hughes (NASDAQ:BKR)

Northern Trust Corp increased its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 18.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,000,756 shares of the company's stock after purchasing an additional 1,553,536 shares during the quarter. Northern Trust Corp owned about 1.01% of Baker Hughes worth $410,231,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BKR. Strategic Financial Concepts LLC purchased a new position in Baker Hughes in the fourth quarter worth $640,000. Burney Co. boosted its holdings in shares of Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company's stock worth $5,693,000 after purchasing an additional 105,349 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 in the last quarter. Northstar Advisory Group LLC bought a new position in shares of Baker Hughes during the 4th quarter valued at about $1,180,000. Finally, Artemis Investment Management LLP raised its holdings in shares of 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 buying an additional 239,773 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Up 2.5 %

Shares of Baker Hughes stock traded up $0.91 during trading on Friday, hitting $37.10. The company's stock had a trading volume of 7,292,433 shares, compared to its average volume of 6,936,974. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The company has a market capitalization of $36.73 billion, a PE ratio of 12.45, a P/E/G ratio of 2.00 and a beta of 1.08. The company has a fifty day simple moving average of $40.44 and a two-hundred day simple moving average of $42.00. 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 announced its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share 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 business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Equities research analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.48%. The ex-dividend date is Tuesday, May 6th. Baker Hughes's dividend payout ratio (DPR) is 31.40%.

Analysts Set New Price Targets

A number of research analysts have commented on BKR shares. Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the company a "buy" rating in a research report on Thursday, April 24th. Barclays reduced their target price on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company boosted their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group lifted their price target on Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus target price 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.