Russell Investments Group Ltd. Increases Holdings in Baker Hughes (NASDAQ:BKR)

Russell Investments Group Ltd. increased its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 101.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,383,918 shares of the company's stock after purchasing an additional 1,200,407 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.24% of Baker Hughes worth $81,484,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BKR. DAVENPORT & Co LLC bought a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $201,000. Asset Management One Co. Ltd. raised its holdings in Baker Hughes by 2.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 424,647 shares of the company's stock valued at $14,999,000 after acquiring an additional 10,083 shares during the period. Simplicity Solutions LLC raised its holdings in Baker Hughes by 5.5% during the 3rd quarter. Simplicity Solutions LLC now owns 20,586 shares of the company's stock valued at $727,000 after acquiring an additional 1,067 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in Baker Hughes during the 3rd quarter valued at $223,000. Finally, Linden Thomas Advisory Services LLC bought a new stake in Baker Hughes during the 3rd quarter valued at $628,000. Institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

NASDAQ:BKR traded down $0.46 during midday trading on Friday, hitting $32.84. The company had a trading volume of 8,318,500 shares, compared to its average volume of 5,927,995. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58. The stock's fifty day moving average price is $32.05 and its 200-day moving average price is $32.51. The company has a market capitalization of $32.87 billion, a PE ratio of 18.35, a P/E/G ratio of 0.62 and a beta of 1.42. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the business earned $0.28 earnings per share. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, research analysts expect that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.56%. Baker Hughes's dividend payout ratio (DPR) is presently 46.93%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BKR shares. TD Cowen boosted their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the company an "outperform" rating in a report on Thursday, January 25th. Royal Bank of Canada reissued an "outperform" rating and set a $39.00 target price on shares of Baker Hughes in a report on Thursday, February 1st. 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 report on Friday, January 26th. Citigroup lowered their target price on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a report on Friday, January 26th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.94.

Insider Buying and Selling

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now directly 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 link. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the company's stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP James E. Apostolides sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares of the company's stock, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

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.