Itau Unibanco Holding S.A. Takes Position in Baker Hughes (NASDAQ:BKR)

Itau Unibanco Holding S.A. purchased a new stake in Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 164,861 shares of the company's stock, valued at approximately $6,812,000.

Other hedge funds have also made changes to their positions in the company. JFS Wealth Advisors LLC increased its position in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after buying an additional 386 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Baker Hughes in the fourth quarter valued at approximately $30,000. Larson Financial Group LLC raised its holdings in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after purchasing an additional 216 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $45,000. Finally, OFI Invest Asset Management bought a new position in Baker Hughes during the fourth quarter worth $47,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BKR. Piper Sandler cut their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company upped their price objective on Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Evercore ISI decreased their price target on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada cut their price target on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, TD Cowen cut their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded down $0.02 during midday trading on Tuesday, reaching $36.50. The stock had a trading volume of 3,230,684 shares, compared to its average volume of 6,935,954. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a 50-day moving average of $40.31 and a 200-day moving average of $42.07. The company has a market capitalization of $36.16 billion, a price-to-earnings ratio of 12.24, 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 posted its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping 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 company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. As a group, research analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Tuesday, May 6th. Baker Hughes's dividend payout ratio is 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.