Wellington Management Group LLP Buys 47,404 Shares of Baker Hughes (NASDAQ:BKR)

Wellington Management Group LLP boosted its position in Baker Hughes (NASDAQ:BKR - Free Report) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 455,714 shares of the company's stock after acquiring an additional 47,404 shares during the quarter. Wellington Management Group LLP's holdings in Baker Hughes were worth $18,693,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BKR. Janney Montgomery Scott LLC grew its holdings in shares of Baker Hughes by 128.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 18,094 shares of the company's stock worth $742,000 after purchasing an additional 10,174 shares during the last quarter. Perigon Wealth Management LLC purchased a new position in Baker Hughes in the 4th quarter valued at approximately $252,000. Caprock Group LLC increased its position in Baker Hughes by 36.0% during the fourth quarter. Caprock Group LLC now owns 46,187 shares of the company's stock worth $1,895,000 after buying an additional 12,232 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Baker Hughes by 27.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,104 shares of the company's stock worth $661,000 after purchasing an additional 3,503 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Baker Hughes by 2.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 31,995 shares of the company's stock valued at $1,312,000 after purchasing an additional 674 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Benchmark reaffirmed a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Stifel Nicolaus set a $50.00 price objective on Baker Hughes and gave the company a "buy" rating in a report on Thursday, April 24th. Evercore ISI decreased their price target on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Piper Sandler dropped their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Susquehanna reduced their price objective on Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research report 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.11.

Baker Hughes Trading Up 0.6%

Shares of Baker Hughes stock traded up $0.22 during midday trading on Tuesday, reaching $37.54. The company had a trading volume of 5,951,447 shares, compared to its average volume of 7,084,969. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock has a fifty day moving average price of $37.82 and a 200 day moving average price of $41.71. The firm has a market cap of $37.19 billion, a PE ratio of 12.60, a P/E/G ratio of 2.00 and a beta of 0.96.

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, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. On average, equities analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.45%. 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.