Flputnam Investment Management Co. Buys 990 Shares of Baker Hughes (NASDAQ:BKR)

Flputnam Investment Management Co. raised its stake in Baker Hughes (NASDAQ:BKR) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,043 shares of the company’s stock after purchasing an additional 990 shares during the period. Flputnam Investment Management Co.’s holdings in Baker Hughes were worth $5,580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BKR. Assenagon Asset Management S.A. increased its stake in Baker Hughes by 15.8% in the third quarter. Assenagon Asset Management S.A. now owns 40,838 shares of the company’s stock valued at $1,476,000 after purchasing an additional 5,570 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Baker Hughes by 41.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 40,050 shares of the company’s stock worth $1,448,000 after acquiring an additional 11,834 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Baker Hughes in the 3rd quarter worth about $218,000. First Trust Direct Indexing L.P. raised its holdings in shares of Baker Hughes by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after acquiring an additional 398 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in shares of Baker Hughes by 8.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 400,603 shares of the company’s stock worth $14,482,000 after acquiring an additional 31,852 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of analyst reports. Royal Bank of Canada upped their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Susquehanna upped their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. Piper Sandler upped their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Stifel Nicolaus upped their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.

Baker Hughes Stock Up 2.3 %

Baker Hughes stock opened at $44.59 on Friday. Baker Hughes has a twelve month low of $29.30 and a twelve month high of $49.40. The firm has a 50 day moving average price of $44.62 and a 200-day moving average price of $40.53. The company has a market capitalization of $44.15 billion, a P/E ratio of 14.96, a P/E/G ratio of 2.00 and a beta of 1.39. 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 (NASDAQ:BKR) last released its earnings results 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 net margin of 10.70% and a return on equity of 14.58%. As a group, equities analysts predict that Baker Hughes will post 2.59 EPS 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 issued a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.06%. Baker Hughes’s dividend payout ratio (DPR) is 30.87%.

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.