71,501 Shares in Baker Hughes Company $BKR Purchased by DDD Partners LLC

Key Points

• DDD Partners LLC opened a new position in Baker Hughes, buying 71,501 shares in Q4 valued at about $3.26 million, as part of a stock base that is 92.06% institutionally owned.
• Company insiders have been net sellers — Maria Georgia Magno sold 19,150 shares (a 56.8% reduction) and insiders disposed of 590,251 shares worth $35.31 million over the past 90 days, leaving insider ownership at just 0.27%.
• Analysts remain mostly positive (20 Buys, 2 Holds) with a consensus target of $60.39 and recent upsized targets from BMO ($70) and UBS ($69); shares trade around $63.42 following an earnings beat (EPS $0.78 vs. $0.67) and a 1.5% dividend yield.

DDD Partners LLC acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 71,501 shares of the company's stock, valued at approximately $3,256,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Formidable Asset Management LLC boosted its holdings in Baker Hughes by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company's stock worth $358,000 after buying an additional 225 shares in the last quarter. CoreCap Advisors LLC boosted its position in Baker Hughes by 16.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,619 shares of the company's stock worth $74,000 after purchasing an additional 228 shares in the last quarter. AMG National Trust Bank boosted its position in Baker Hughes by 3.7% during the third quarter. AMG National Trust Bank now owns 6,831 shares of the company's stock worth $333,000 after purchasing an additional 246 shares in the last quarter. JFS Wealth Advisors LLC boosted its position in Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock worth $37,000 after purchasing an additional 252 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in Baker Hughes by 1.3% during the third quarter. Linden Thomas Advisory Services LLC now owns 19,674 shares of the company's stock worth $959,000 after purchasing an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Insider Activity

In related news, insider Maria Georgia Magno sold 19,150 shares of the company's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the transaction, the insider owned 14,588 shares of the company's stock, valued at approximately $862,296.68. This represents a 56.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Rebecca L. Charlton sold 1,985 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $55.77, for a total transaction of $110,703.45. Following the transaction, the chief accounting officer directly owned 12,052 shares in the company, valued at $672,140.04. The trade was a 14.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 590,251 shares of company stock worth $35,311,023. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BKR has been the topic of a number of research analyst reports. Evercore reiterated an "outperform" rating and set a $68.00 target price on shares of Baker Hughes in a research report on Wednesday, February 11th. BMO Capital Markets boosted their target price on Baker Hughes from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. iA Financial set a $60.00 target price on Baker Hughes in a research report on Tuesday, January 27th. Capital One Financial upped their price target on shares of Baker Hughes from $53.00 to $59.00 and gave the company an "overweight" rating in a report on Tuesday, January 27th. Finally, UBS Group upped their price target on shares of Baker Hughes from $61.00 to $69.00 and gave the company a "neutral" rating in a report on Thursday, April 2nd. Twenty equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus price target of $60.39.

Baker Hughes Stock Up 0.4%

Shares of NASDAQ:BKR opened at $63.42 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Baker Hughes Company has a 52-week low of $34.56 and a 52-week high of $67.00. The stock's fifty day simple moving average is $60.65 and its 200-day simple moving average is $52.71. The company has a market capitalization of $62.67 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.76 and a beta of 0.90.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same period in the prior year, the business earned $0.70 earnings per share. The business's revenue was up .3% on a year-over-year basis. As a group, equities research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Baker Hughes's dividend payout ratio is presently 35.38%.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm's roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE's oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.

Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NASDAQ:BKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.