Hartford Investment Management Co. Has $2.51 Million Stock Holdings in Baker Hughes (NASDAQ:BKR)

Hartford Investment Management Co. trimmed its position in Baker Hughes (NASDAQ:BKR) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,163 shares of the company’s stock after selling 1,475 shares during the period. Hartford Investment Management Co.’s holdings in Baker Hughes were worth $2,509,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bridges Investment Management Inc. raised its holdings in Baker Hughes by 3.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after buying an additional 273 shares during the period. 180 Wealth Advisors LLC raised its holdings in Baker Hughes by 1.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after buying an additional 295 shares during the period. Graypoint LLC raised its holdings in Baker Hughes by 3.0% during the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock worth $372,000 after buying an additional 301 shares during the period. Bleakley Financial Group LLC raised its holdings in Baker Hughes by 1.8% during the 4th quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company’s stock worth $861,000 after buying an additional 380 shares during the period. Finally, First Trust Direct Indexing L.P. raised its holdings in Baker Hughes by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after buying an additional 398 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on BKR. JPMorgan Chase & Co. raised their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Jefferies Financial Group raised their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Evercore ISI raised their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Finally, TD Cowen decreased their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction 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 directly owns 173,302 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

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 company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $43.56 and a 200 day simple moving average of $39.68. The stock has a market capitalization of $45.92 billion, a PE ratio of 15.57, a P/E/G ratio of 2.07 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, research analysts expect that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

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

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.