Rockefeller Capital Management L.P. Increases Holdings in Baker Hughes (NASDAQ:BKR)

Rockefeller Capital Management L.P. increased its stake in Baker Hughes (NASDAQ:BKR) by 20.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 37,591 shares of the company’s stock after buying an additional 6,375 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Baker Hughes were worth $1,538,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in shares of Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock worth $1,004,212,000 after acquiring an additional 465,832 shares during the period. Norges Bank bought a new position in Baker Hughes during the fourth quarter worth about $829,092,000. FMR LLC increased its stake in shares of Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company’s stock worth $644,098,000 after purchasing an additional 1,744,225 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Baker Hughes during the 4th quarter valued at approximately $291,289,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Baker Hughes by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock worth $290,705,000 after buying an additional 135,200 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 1.9 %

BKR opened at $38.86 on Monday. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $42.34 and its 200-day moving average price is $42.13. The company has a market cap of $38.47 billion, a P/E ratio of 13.04, a P/E/G ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, equities analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is 30.87%.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BKR shares. Stifel Nicolaus dropped their target price on Baker Hughes from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Piper Sandler upped their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Citigroup reduced their price target on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. TD Cowen dropped their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Susquehanna reduced their target price on Baker Hughes from $55.00 to $48.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.65.

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.