Summit Trail Advisors LLC Grows Stock Holdings in Baker Hughes (NASDAQ:BKR)

Summit Trail Advisors LLC grew its position in shares of Baker Hughes (NASDAQ:BKR) by 44.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,340 shares of the company’s stock after purchasing an additional 2,858 shares during the quarter. Summit Trail Advisors LLC’s holdings in Baker Hughes were worth $383,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes during the third quarter valued at about $30,000. True Wealth Design LLC boosted its holdings in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares during the period. Continuum Advisory LLC grew its position in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after acquiring an additional 796 shares during the last quarter. Eastern Bank lifted its position in Baker Hughes by 598.4% in the fourth quarter. Eastern Bank now owns 1,739 shares of the company’s stock valued at $71,000 after purchasing an additional 1,490 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Baker Hughes during the third quarter valued at approximately $103,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 1.5 %

Shares of NASDAQ:BKR opened at $46.41 on Thursday. Baker Hughes has a 1 year low of $28.63 and a 1 year high of $49.40. The stock’s fifty day moving average price is $43.56 and its 200-day moving average price is $39.68. The company has a market cap of $45.92 billion, a P/E ratio of 15.57, a PEG ratio of 2.07 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Sell-side analysts expect that Baker Hughes will post 2.57 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 1.98%. Baker Hughes’s payout ratio is currently 28.19%.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the topic of several analyst reports. TD Cowen decreased their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Evercore ISI boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Citigroup increased their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. boosted their price target on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada increased their price objective on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.06.

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.