Ethic Inc. Purchases 40,418 Shares of Baker Hughes (NASDAQ:BKR)

Ethic Inc. lifted its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 36.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 151,425 shares of the company's stock after purchasing an additional 40,418 shares during the quarter. Ethic Inc.'s holdings in Baker Hughes were worth $6,211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Dynasty Wealth Management LLC increased its holdings in shares of Baker Hughes by 2.7% in the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company's stock valued at $324,000 after purchasing an additional 207 shares during the last quarter. Larson Financial Group LLC grew its position in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after buying an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC raised its holdings in Baker Hughes by 0.7% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company's stock valued at $1,660,000 after acquiring an additional 267 shares in the last quarter. Cromwell Holdings LLC lifted its position in shares of Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company's stock valued at $130,000 after acquiring an additional 269 shares during the period. Finally, 180 Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 1.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company's stock worth $923,000 after purchasing an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Piper Sandler reduced their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the company a "buy" rating in a research report on Thursday, April 24th. Royal Bank of Canada lowered their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, Citigroup dropped their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Stock Up 1.5%

Shares of BKR traded up $0.56 during mid-day trading on Tuesday, reaching $38.18. The company had a trading volume of 6,698,977 shares, compared to its average volume of 7,050,384. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The company has a market capitalization of $37.83 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The firm has a 50-day moving average price of $39.63 and a 200 day moving average price of $42.07. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion during 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%. On average, sell-side analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.

Baker Hughes Company 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.