Catalyst Funds Management Pty Ltd Increases Stake in Baker Hughes (NASDAQ:BKR)

Catalyst Funds Management Pty Ltd grew its stake in shares of Baker Hughes (NASDAQ:BKR) by 37.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,800 shares of the company’s stock after buying an additional 2,400 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Baker Hughes were worth $361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its holdings in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Baker Hughes during the fourth quarter valued at approximately $30,000. Larson Financial Group LLC raised its holdings in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after acquiring an additional 216 shares in the last quarter. True Wealth Design LLC lifted its stake in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares during the period. Finally, Groupama Asset Managment boosted its holdings in Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after acquiring an additional 811,711 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the subject of several research reports. Benchmark restated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. TD Cowen lowered their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group upped 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. Wells Fargo & Company raised their target price on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Evercore ISI upped their price target on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.06.

Baker Hughes Stock Up 2.6 %

Shares of Baker Hughes stock opened at $42.84 on Friday. The company has a 50-day simple moving average of $44.88 and a two-hundred day simple moving average of $41.05. The stock has a market capitalization of $42.42 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping 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%. On average, analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

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

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’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 transaction 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 $7,758,730.54. The trade was 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 at the SEC website. 0.25% of the stock is currently owned by 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.