Baker Hughes (NASDAQ:BKR) Shares Bought by Cerity Partners LLC

Cerity Partners LLC grew its holdings in Baker Hughes (NASDAQ:BKR) by 34.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,216 shares of the company’s stock after acquiring an additional 4,944 shares during the quarter. Cerity Partners LLC’s holdings in Baker Hughes were worth $657,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. FMR LLC lifted its stake in Baker Hughes by 16.8% in the 3rd 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 in the last quarter. AQR Capital Management LLC lifted its position in shares of Baker Hughes by 846.7% in the third quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock valued at $84,025,000 after acquiring an additional 2,127,675 shares in the last quarter. Alphinity Investment Management Pty Ltd boosted its stake in shares of Baker Hughes by 348.2% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,324,511 shares of the company’s stock worth $79,452,000 after acquiring an additional 1,805,870 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Baker Hughes by 165.9% in the third quarter. Royal Bank of Canada now owns 2,228,646 shares of the company’s stock worth $78,716,000 after acquiring an additional 1,390,574 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Baker Hughes by 731.1% during the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock worth $49,732,000 after purchasing an additional 1,283,296 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Trading Up 1.7 %

BKR opened at $33.00 on Wednesday. The business’s 50 day moving average price is $31.82 and its 200 day moving average price is $32.55. 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 stock has a market capitalization of $33.03 billion, a PE ratio of 17.28, a P/E/G ratio of 0.62 and a beta of 1.42. Baker Hughes has a one year low of $26.81 and a one year high of $37.58.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. As a group, equities research analysts expect that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.55%. Baker Hughes’s dividend payout ratio (DPR) is presently 43.98%.

Insider Buying and Selling at Baker Hughes

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

Analysts Set New Price Targets

A number of brokerages have weighed in on BKR. Susquehanna restated a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. TD Cowen raised their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Wolfe Research lowered shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research 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 report on Thursday, February 1st. Finally, The Goldman Sachs Group boosted their target price on Baker Hughes from $36.00 to $38.00 in a report on Tuesday. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.00.

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.