Baker Hughes (NASDAQ:BKR) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB boosted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 4.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,810,915 shares of the company’s stock after buying an additional 83,266 shares during the period. Nordea Investment Management AB’s holdings in Baker Hughes were worth $74,592,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bridges Investment Management Inc. boosted its holdings in shares of Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after buying an additional 273 shares in the last quarter. Graypoint LLC grew its holdings in shares of Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock worth $372,000 after purchasing an additional 301 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after purchasing an additional 398 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Baker Hughes by 4.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock valued at $326,000 after purchasing an additional 401 shares during the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of Baker Hughes by 7.8% in the 3rd quarter. Brooklyn Investment Group now owns 6,756 shares of the company’s stock valued at $244,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Jefferies Financial Group raised their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Barclays upped their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Citigroup upped their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.12.

Baker Hughes Price Performance

Baker Hughes stock opened at $43.40 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $41.94 and its 200 day simple moving average is $37.81. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17. The firm has a market capitalization of $42.95 billion, a PE ratio of 19.46, a P/E/G ratio of 0.72 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same period in the prior year, the business earned $0.42 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.94%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

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.