E Fund Management Co. Ltd. Increases Position in Baker Hughes (NASDAQ:BKR)

E Fund Management Co. Ltd. raised its position in Baker Hughes (NASDAQ:BKR) by 33.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,411 shares of the company’s stock after purchasing an additional 3,629 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Baker Hughes were worth $591,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Baker Hughes by 0.5% in the third 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 increased its position in shares of Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after acquiring an additional 2,811,940 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Baker Hughes by 1.5% during the third 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 acquiring an additional 145,537 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Baker Hughes during the fourth quarter worth $291,289,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Baker Hughes by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock worth $290,705,000 after acquiring an additional 135,200 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $42.89 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $30.44 and a twelve month high of $49.40. The stock has a 50 day moving average of $44.82 and a two-hundred day moving average of $40.76. The stock has a market cap of $42.47 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is 30.87%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BKR. TD Cowen cut their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Barclays upped their price objective on Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Evercore ISI upped their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Bank of America upped their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. 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. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $51.06.

About Baker Hughes

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.