Alphinity Investment Management Pty Ltd Buys 1,805,870 Shares of Baker Hughes (NASDAQ:BKR)

Alphinity Investment Management Pty Ltd boosted its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 348.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,324,511 shares of the company's stock after purchasing an additional 1,805,870 shares during the quarter. Baker Hughes accounts for about 0.8% of Alphinity Investment Management Pty Ltd's investment portfolio, making the stock its 25th biggest holding. Alphinity Investment Management Pty Ltd owned about 0.23% of Baker Hughes worth $79,452,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Baker Hughes by 0.5% in the first quarter. State Street Corp now owns 67,473,141 shares of the company's stock valued at $1,947,274,000 after buying an additional 365,013 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Baker Hughes by 2.4% in the first quarter. Geode Capital Management LLC now owns 21,391,034 shares of the company's stock valued at $615,984,000 after buying an additional 495,677 shares during the period. FMR LLC boosted its holdings in shares of Baker Hughes by 16.8% in the third quarter. FMR LLC now owns 16,078,162 shares of the company's stock valued at $567,881,000 after buying an additional 2,316,638 shares during the period. Northern Trust Corp boosted its holdings in Baker Hughes by 4.0% during the third quarter. Northern Trust Corp now owns 9,816,785 shares of the company's stock worth $346,729,000 after purchasing an additional 379,385 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Baker Hughes by 8.6% during the third quarter. Morgan Stanley now owns 9,445,847 shares of the company's stock worth $333,627,000 after purchasing an additional 745,511 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Insider Transactions at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now directly owns 14,451 shares of the company's stock, valued at $425,437.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.24% of the company's stock.

Analyst Ratings Changes

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

Baker Hughes Price Performance

NASDAQ:BKR traded up $0.39 during trading hours on Friday, reaching $34.31. The stock had a trading volume of 5,151,059 shares, compared to its average volume of 7,510,318. The stock has a market capitalization of $34.34 billion, a PE ratio of 17.96, a PEG ratio of 0.71 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. The company has a 50 day moving average price of $30.88 and a two-hundred day moving average price of $32.71. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. Baker Hughes's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS. As a group, sell-side analysts anticipate that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.45%. This is a boost from Baker Hughes's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, February 12th. Baker Hughes's dividend payout ratio (DPR) is presently 43.98%.

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.