Knights of Columbus Asset Advisors LLC Has $685,000 Stock Holdings in Baker Hughes (NASDAQ:BKR)

Knights of Columbus Asset Advisors LLC grew its position in shares of Baker Hughes (NASDAQ:BKR) by 55.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,709 shares of the company’s stock after purchasing an additional 5,970 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Baker Hughes were worth $685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BKR. Quest Partners LLC lifted its stake in shares of Baker Hughes by 446,900.0% in the third quarter. Quest Partners LLC now owns 4,470 shares of the company’s stock worth $162,000 after acquiring an additional 4,469 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Baker Hughes by 13.0% during the third quarter. PNC Financial Services Group Inc. now owns 134,735 shares of the company’s stock valued at $4,871,000 after acquiring an additional 15,477 shares in the last quarter. Commerce Bank increased its holdings in shares of Baker Hughes by 3.1% during the third quarter. Commerce Bank now owns 30,775 shares of the company’s stock valued at $1,113,000 after acquiring an additional 921 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Baker Hughes by 20.4% during the third quarter. Advisors Asset Management Inc. now owns 89,488 shares of the company’s stock valued at $3,235,000 after acquiring an additional 15,172 shares in the last quarter. Finally, Banco Santander S.A. bought a new stake in shares of Baker Hughes during the third quarter valued at approximately $646,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Down 1.3 %

Shares of NASDAQ BKR opened at $44.11 on Friday. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The business’s fifty day moving average price is $44.97 and its 200-day moving average price is $41.37. The stock has a market capitalization of $43.67 billion, a PE ratio of 14.80, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS 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, equities research analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.09%. 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 currently 30.87%.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BKR shares. Royal Bank of Canada lifted their target price on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler lifted their target price on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Susquehanna lifted their target price on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, February 3rd. Wells Fargo & Company lifted their target price on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Evercore ISI lifted their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Company 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.