Baker Hughes (NASDAQ:BKR) Stock Position Lifted by Syon Capital LLC

Syon Capital LLC increased its position in shares of Baker Hughes (NASDAQ:BKR) by 65.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,889 shares of the company’s stock after purchasing an additional 11,040 shares during the period. Syon Capital LLC’s holdings in Baker Hughes were worth $953,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. FMR LLC grew its position in Baker Hughes by 16.8% during the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock valued at $567,881,000 after purchasing an additional 2,316,638 shares in the last quarter. AQR Capital Management LLC grew its holdings in Baker Hughes by 846.7% during the third quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock valued at $84,025,000 after purchasing an additional 2,127,675 shares during the last quarter. Alphinity Investment Management Pty Ltd raised its holdings in Baker Hughes by 348.2% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,324,511 shares of the company’s stock worth $79,452,000 after acquiring an additional 1,805,870 shares during the period. Royal Bank of Canada lifted its position in shares of Baker Hughes by 165.9% during the 3rd quarter. Royal Bank of Canada now owns 2,228,646 shares of the company’s stock worth $78,716,000 after purchasing an additional 1,390,574 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Baker Hughes by 731.1% in the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock valued at $49,732,000 after acquiring an additional 1,283,296 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

BKR has been the subject of several recent research reports. Barclays dropped their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. The Goldman Sachs Group increased their target price on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday. Citigroup reduced their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. UBS Group lifted their target price on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday. Finally, TD Cowen increased their target price on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.94.

Baker Hughes Stock Performance

Shares of Baker Hughes stock traded up $0.63 during trading on Thursday, reaching $33.30. The company’s stock had a trading volume of 7,963,044 shares, compared to its average volume of 8,760,800. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The firm has a market cap of $33.33 billion, a PE ratio of 18.41, a P/E/G ratio of 0.62 and a beta of 1.42. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The business’s 50-day moving average price is $31.89 and its 200-day moving average price is $32.55.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.45% and a net margin of 6.95%. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the business posted $0.28 earnings per share. Baker Hughes’s quarterly revenue was up 12.3% on a year-over-year basis. Equities analysts forecast that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.52%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insiders Place Their Bets

In related news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

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.