Tower Research Capital LLC TRC Raises Stock Holdings in Baker Hughes (NASDAQ:BKR)

Tower Research Capital LLC TRC grew its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 26.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,186 shares of the company's stock after acquiring an additional 11,367 shares during the period. Tower Research Capital LLC TRC's holdings in Baker Hughes were worth $2,223,000 at the end of the most recent reporting period.

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

Baker Hughes Trading Down 0.8 %

Shares of BKR traded down $0.28 during mid-day trading on Monday, hitting $36.17. 1,433,357 shares of the company's stock traded hands, compared to its average volume of 6,878,693. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $35.81 billion, a P/E ratio of 12.14, a PEG ratio of 2.00 and a beta of 1.08. The business's 50-day moving average price is $41.39 and its 200-day moving average price is $42.10. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share (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 business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. As a group, sell-side analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Tuesday, May 6th. Baker Hughes's payout ratio is currently 31.40%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BKR shares. Citigroup cut their price objective on Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. 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. Royal Bank of Canada dropped their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday. The Goldman Sachs Group upped their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Finally, Barclays dropped their price target on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.11.

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.