West Michigan Advisors LLC Takes $247,000 Position in Baker Hughes (NASDAQ:BKR)

West Michigan Advisors LLC purchased a new position in Baker Hughes (NASDAQ:BKR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,010 shares of the company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKR. Assenagon Asset Management S.A. grew its stake in Baker Hughes by 15.8% in the third quarter. Assenagon Asset Management S.A. now owns 40,838 shares of the company’s stock valued at $1,476,000 after purchasing an additional 5,570 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Baker Hughes by 41.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 40,050 shares of the company’s stock valued at $1,448,000 after buying an additional 11,834 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of Baker Hughes in the 3rd quarter worth approximately $218,000. First Trust Direct Indexing L.P. raised its stake in shares of 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 acquiring an additional 398 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in Baker Hughes by 8.6% during the third quarter. Stephens Investment Management Group LLC now owns 400,603 shares of the company’s stock valued at $14,482,000 after acquiring an additional 31,852 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction on Monday, January 27th. The shares were 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 of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR stock opened at $44.59 on Friday. Baker Hughes has a 1 year low of $29.30 and a 1 year high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a fifty day moving average price of $44.62 and a 200 day moving average price of $40.53. The stock has a market cap of $44.15 billion, a PE ratio of 14.96, a P/E/G ratio of 2.00 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last released its earnings results 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 return on equity of 14.58% and a net margin of 10.70%. Sell-side analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company 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 an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.06%. Baker Hughes’s payout ratio is 30.87%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BKR shares. TD Cowen cut their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Benchmark restated a “buy” rating and set a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Royal Bank of Canada increased their price target on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Stifel Nicolaus boosted 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. Finally, Piper Sandler increased their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

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.