Massachusetts Wealth Management Purchases 20,550 Shares of Baker Hughes (NASDAQ:BKR)

Massachusetts Wealth Management raised its position in Baker Hughes (NASDAQ:BKR) by 230.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,475 shares of the company’s stock after acquiring an additional 20,550 shares during the period. Massachusetts Wealth Management’s holdings in Baker Hughes were worth $1,209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in BKR. Geode Capital Management LLC increased its position in Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after buying an additional 123,172 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Baker Hughes by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock worth $348,233,000 after purchasing an additional 145,537 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Baker Hughes by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock worth $251,304,000 after purchasing an additional 22,383 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Baker Hughes by 11.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,495,752 shares of the company’s stock valued at $198,671,000 after buying an additional 572,943 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on BKR. Jefferies Financial Group lifted their price target on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Wells Fargo & Company increased their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday. TD Cowen decreased their price objective 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. Finally, Evercore ISI increased their price objective 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. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.18.

Baker Hughes Trading Up 1.2 %

Shares of BKR stock opened at $47.96 on Wednesday. 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 has a 50 day simple moving average of $43.20 and a 200-day simple moving average of $39.28. The company has a market cap of $47.46 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 0.89 and a beta of 1.39. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $48.04.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 research analysts expect that Baker Hughes will post 2.55 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. Baker Hughes’s dividend payout ratio is 28.19%.

Baker Hughes 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.