Engine NO. 1 LLC Buys Shares of 208,000 Baker Hughes (NASDAQ:BKR)

Engine NO. 1 LLC purchased a new stake in Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 208,000 shares of the company's stock, valued at approximately $8,532,000. Baker Hughes accounts for 22.7% of Engine NO. 1 LLC's portfolio, making the stock its 2nd biggest holding.

Several other large investors have also recently made changes to their positions in the stock. Capital Research Global Investors increased its position in shares of Baker Hughes by 0.6% during the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock worth $1,135,744,000 after purchasing an additional 177,232 shares in the last quarter. Geode Capital Management LLC grew its stake in Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after buying an additional 465,832 shares during the last quarter. Norges Bank acquired a new position in Baker Hughes during the 4th quarter valued at about $829,092,000. FMR LLC raised its stake in Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after buying an additional 1,744,225 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Baker Hughes by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock worth $473,880,000 after acquiring an additional 874,297 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on BKR shares. Citigroup decreased their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Susquehanna decreased their price target on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a report on Thursday. Wells Fargo & Company lifted their price objective 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 cut their target price on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Evercore ISI lowered their price target on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Price Performance

Shares of BKR stock traded down $0.48 during mid-day trading on Monday, hitting $35.98. 1,965,492 shares of the stock were exchanged, compared to its average volume of 6,881,372. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. 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 company has a market cap of $35.62 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The firm has a fifty day moving average of $41.39 and a 200 day moving average of $42.10.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Research analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

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

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.