Baker Hughes (NASDAQ:BKR) Shares Bought by Huntington National Bank

Huntington National Bank lifted its position in shares of Baker Hughes (NASDAQ:BKR) by 16.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,303 shares of the company’s stock after purchasing an additional 16,010 shares during the quarter. Huntington National Bank’s holdings in Baker Hughes were worth $4,771,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Baker Hughes during the fourth quarter valued at $829,092,000. Raymond James Financial Inc. purchased a new stake in shares of Baker Hughes during the 4th quarter worth about $291,289,000. Congress Asset Management Co. acquired a new stake in shares of Baker Hughes during the 4th quarter valued at about $107,155,000. Yaupon Capital Management LP purchased a new position in shares of Baker Hughes in the 3rd quarter valued at about $47,296,000. Finally, Natixis Advisors LLC raised its holdings in Baker Hughes by 217.5% in the 4th quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock worth $70,901,000 after purchasing an additional 1,184,036 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 0.3 %

NASDAQ BKR opened at $44.92 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The business’s fifty day simple moving average is $44.69 and its 200-day simple moving average is $41.97. The firm has a market cap of $44.48 billion, a PE ratio of 15.07, a P/E/G ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. As a group, equities analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.05%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is presently 30.87%.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated 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 $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Stifel Nicolaus raised their price objective on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Benchmark reissued a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Royal Bank of Canada increased their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Piper Sandler boosted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group upped their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

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.