Baker Hughes (NASDAQ:BKR) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 36.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,799 shares of the company's stock after acquiring an additional 14,749 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Baker Hughes were worth $2,248,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Capital Research Global Investors raised its holdings in Baker Hughes by 0.6% in the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock valued at $1,135,744,000 after buying an additional 177,232 shares during the period. Geode Capital Management LLC raised its holdings in Baker Hughes by 1.9% in 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. Norges Bank purchased a new position in Baker Hughes in the fourth quarter valued at approximately $829,092,000. FMR LLC raised its holdings 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 period. Finally, Dimensional Fund Advisors LP raised 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 valued at $473,880,000 after buying an additional 874,297 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BKR has been the topic of several research reports. Citigroup cut their price target on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. 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. Benchmark reaffirmed a "buy" rating and issued a $57.00 price objective on shares of Baker Hughes in a research report on Tuesday, February 11th. TD Cowen lowered their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Evercore ISI lowered their price objective on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $49.11.

Baker Hughes Stock Performance

Baker Hughes stock traded up $0.75 during mid-day trading on Friday, reaching $37.90. The company's stock had a trading volume of 4,268,185 shares, compared to its average volume of 7,082,070. The firm has a market cap of $37.55 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 2.00 and a beta of 0.96. The business has a 50 day moving average price of $37.30 and a 200-day moving average price of $41.57. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend payout ratio is presently 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.