FORA Capital LLC bought a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 131,063 shares of the company's stock, valued at approximately $5,376,000.
Several other institutional investors and hedge funds also recently modified their holdings of BKR. Wilmington Savings Fund Society FSB acquired a new position in shares of Baker Hughes during the 3rd quarter worth approximately $139,000. Principal Financial Group Inc. raised its holdings in shares of Baker Hughes by 4.2% in the third quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company's stock worth $42,580,000 after acquiring an additional 47,727 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Baker Hughes by 4.8% in the fourth quarter. Nordea Investment Management AB now owns 1,810,915 shares of the company's stock valued at $74,592,000 after acquiring an additional 83,266 shares in the last quarter. First Hawaiian Bank boosted its stake in shares of Baker Hughes by 7.9% during the fourth quarter. First Hawaiian Bank now owns 94,163 shares of the company's stock valued at $3,863,000 after acquiring an additional 6,891 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Baker Hughes by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 40,525 shares of the company's stock valued at $1,662,000 after acquiring an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Benchmark restated a "buy" rating and set a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. TD Cowen cut their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. TD Securities decreased their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Susquehanna dropped their target price on Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $49.11.
Get Our Latest Stock Analysis on Baker Hughes
Baker Hughes Stock Up 0.7 %
NASDAQ:BKR traded up $0.24 during mid-day trading on Friday, hitting $36.49. The company had a trading volume of 8,993,628 shares, compared to its average volume of 7,037,092. The business has a fifty day simple moving average of $39.72 and a 200-day simple moving average of $42.03. The firm has a market capitalization of $36.15 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 2.00 and a beta of 0.96. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. 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 (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion for 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%. Equities analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.
Baker Hughes Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.52%. Baker Hughes's dividend payout ratio is presently 31.40%.
About Baker Hughes
(
Free Report)
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.
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