Pitcairn Co. Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Pitcairn Co. increased its stake in shares of Baker Hughes (NASDAQ:BKR) by 28.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,496 shares of the company’s stock after buying an additional 3,413 shares during the quarter. Pitcairn Co.’s holdings in Baker Hughes were worth $636,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. Geode Capital Management LLC increased its holdings 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 buying an additional 465,832 shares during the last quarter. Norges Bank acquired a new stake in Baker Hughes during the fourth quarter worth $829,092,000. Raymond James Financial Inc. purchased a new stake in Baker Hughes in the fourth quarter valued at $291,289,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Baker Hughes by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock worth $290,705,000 after purchasing an additional 135,200 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Baker Hughes by 0.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company’s stock worth $230,271,000 after purchasing an additional 45,324 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on BKR shares. Evercore ISI upped their target price 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. Susquehanna lifted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a report on Monday, February 3rd. Stifel Nicolaus upped their price target on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Bank of America increased their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Two 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 presently has an average rating of “Moderate Buy” and an average target price of $51.00.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes 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 transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Stock Down 13.3 %

Baker Hughes stock opened at $35.41 on Friday. The stock has a market cap of $35.06 billion, a PE ratio of 11.88, a P/E/G ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock’s fifty day moving average is $44.40 and its two-hundred day moving average is $41.97. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping 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, sell-side analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.60%. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is currently 30.87%.

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.