First Hawaiian Bank Buys 6,891 Shares of Baker Hughes (NASDAQ:BKR)

First Hawaiian Bank boosted its stake in Baker Hughes (NASDAQ:BKR) by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,163 shares of the company’s stock after acquiring an additional 6,891 shares during the period. First Hawaiian Bank’s holdings in Baker Hughes were worth $3,863,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Baker Hughes by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after purchasing an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after buying an additional 2,811,940 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Baker Hughes by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after buying an additional 680,621 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Baker Hughes by 1.5% during 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 buying an additional 145,537 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after acquiring an additional 692,859 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded up $0.04 during midday trading on Wednesday, reaching $43.44. 4,992,356 shares of the company traded hands, compared to its average volume of 5,700,128. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The firm’s fifty day moving average price is $41.94 and its two-hundred day moving average price is $37.81. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $42.99 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.93%. Baker Hughes’s payout ratio is currently 37.67%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research reports. Benchmark restated a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Jefferies Financial Group boosted their target price on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. TD Cowen lowered their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday. Citigroup upped their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Piper Sandler assumed coverage on shares of Baker Hughes in a research report on Thursday, December 19th. They set an “overweight” rating and a $53.00 target price for the company. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.18.

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.