NorthRock Partners LLC Invests $317,000 in Baker Hughes (NASDAQ:BKR)

NorthRock Partners LLC acquired a new stake in Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,726 shares of the company's stock, valued at approximately $317,000.

Several other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in Baker Hughes during the 4th quarter worth approximately $829,092,000. Raymond James Financial Inc. bought a new position in shares of Baker Hughes in the 4th quarter worth $291,289,000. Neuberger Berman Group LLC grew its position in Baker Hughes by 2,527.6% in the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock valued at $136,158,000 after purchasing an additional 3,193,089 shares during the period. Congress Asset Management Co. bought a new stake in Baker Hughes during the 4th quarter valued at $107,155,000. Finally, FMR LLC raised its holdings in Baker Hughes by 12.5% during the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after buying an additional 1,744,225 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Susquehanna decreased their target price on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Wells Fargo & Company upped their price target on Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Barclays dropped their price objective on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, TD Securities reduced their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and an average target price of $49.11.

Baker Hughes Price Performance

Shares of BKR traded down $0.69 during trading hours on Wednesday, reaching $36.65. 7,132,314 shares of the company's stock traded hands, compared to its average volume of 7,045,436. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm's 50 day simple moving average is $39.13 and its 200-day simple moving average is $42.05. The stock has a market cap of $36.31 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The business had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. Equities analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was 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.