Fifth Third Bancorp Purchases 1,321 Shares of Baker Hughes (NASDAQ:BKR)

Fifth Third Bancorp lifted its position in shares of Baker Hughes (NASDAQ:BKR) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,899 shares of the company’s stock after buying an additional 1,321 shares during the quarter. Fifth Third Bancorp’s holdings in Baker Hughes were worth $1,760,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BKR. Ashton Thomas Securities LLC bought a new position in Baker Hughes during the 3rd quarter worth about $30,000. True Wealth Design LLC boosted its stake in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares in the last quarter. Groupama Asset Managment increased its holdings in Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after buying an additional 811,711 shares during the period. Continuum Advisory LLC raised its stake in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares in the last quarter. Finally, Quarry LP lifted its holdings in Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after buying an additional 714 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $43.28 on Wednesday. The company has a 50 day simple moving average of $43.02 and a two-hundred day simple moving average of $38.87. The stock has a market cap of $42.83 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 0.88 and a beta of 1.39. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $47.47.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BKR shares. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Piper Sandler started coverage on shares of Baker Hughes in a report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 target price for the company. Jefferies Financial Group raised their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.06.

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.