Swiss National Bank Reduces Stake in Baker Hughes (NASDAQ:BKR)

Swiss National Bank reduced its position in Baker Hughes (NASDAQ:BKR) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,806,420 shares of the company’s stock after selling 155,900 shares during the period. Swiss National Bank’s holdings in Baker Hughes were worth $115,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of BKR. Raymond James Financial Inc. purchased a new position in shares of Baker Hughes in the 4th quarter worth $291,289,000. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after buying an additional 2,811,940 shares during the last quarter. Congress Asset Management Co. bought a new position in Baker Hughes in the 4th quarter worth $107,155,000. Yaupon Capital Management LP bought a new position in Baker Hughes in the 3rd quarter worth $47,296,000. Finally, Eagle Asset Management Inc. raised its holdings in Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after purchasing an additional 860,219 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of recent research reports. Piper Sandler raised their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Susquehanna raised their target price on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. The Goldman Sachs Group raised their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Benchmark reaffirmed a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. Finally, Stifel Nicolaus raised their target price on 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 issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The stock was 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 owns 173,302 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Baker Hughes Trading Up 2.6 %

Shares of BKR stock opened at $42.84 on Friday. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average price is $44.88 and its 200-day moving average price is $41.01. The stock has a market capitalization of $42.42 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Equities research analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

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

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.