Raymond James & Associates Purchases 56,707 Shares of Baker Hughes (NASDAQ:BKR)

Raymond James & Associates grew its position in Baker Hughes (NASDAQ:BKR - Free Report) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 466,769 shares of the company's stock after acquiring an additional 56,707 shares during the period. Raymond James & Associates' holdings in Baker Hughes were worth $15,954,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. acquired a new position in shares of Baker Hughes in the fourth quarter valued at approximately $27,000. Hall Laurie J Trustee acquired a new position in Baker Hughes during the third quarter worth approximately $28,000. Bruce G. Allen Investments LLC acquired a new position in Baker Hughes during the fourth quarter worth approximately $33,000. OFI Invest Asset Management acquired a new position in Baker Hughes during the third quarter worth approximately $36,000. Finally, Quarry LP increased its position in Baker Hughes by 41.3% during the second quarter. Quarry LP now owns 1,132 shares of the company's stock worth $36,000 after purchasing an additional 331 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Performance

BKR traded up $0.29 during trading hours on Wednesday, reaching $33.88. The company's stock had a trading volume of 7,583,248 shares, compared to its average volume of 9,453,242. The company's 50-day moving average is $30.65 and its 200-day moving average is $32.76. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The firm has a market cap of $33.91 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 0.69 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.04. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The company's revenue was up 15.7% on a year-over-year basis. On average, equities analysts forecast that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from Baker Hughes's previous quarterly dividend of $0.20. Baker Hughes's dividend payout ratio (DPR) is presently 43.98%.

Insider Buying and Selling

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

BKR has been the subject of several analyst reports. Citigroup decreased their target price on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Friday, January 26th. Barclays lowered their target price on shares of Baker Hughes from $43.00 to $42.00 and set an "overweight" rating on the stock in a research note on Friday, January 26th. TD Cowen raised their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $39.00 price objective on shares of Baker Hughes in a research report on Thursday, February 1st. Finally, Wolfe Research downgraded shares of Baker Hughes from an "outperform" rating to a "peer perform" rating in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Baker Hughes 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.