Independent Advisor Alliance Makes New $238,000 Investment in Baker Hughes (NASDAQ:BKR)

Independent Advisor Alliance purchased a new stake in shares of Baker Hughes (NASDAQ:BKR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,803 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BKR. Strategic Financial Concepts LLC bought a new position in Baker Hughes during the fourth quarter worth about $640,000. Burney Co. lifted its stake in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after buying an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC bought a new position in Baker Hughes in the 4th quarter worth approximately $1,180,000. Artemis Investment Management LLP grew its stake in Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after buying an additional 239,773 shares in the last quarter. Finally, Czech National Bank raised its holdings in Baker Hughes by 6.0% during the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after acquiring an additional 12,178 shares during the period. Institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Bank of America lifted their target price on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. TD Cowen lowered their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Susquehanna increased their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Stock Up 2.1 %

Shares of NASDAQ BKR opened at $44.60 on Thursday. The stock has a market capitalization of $44.16 billion, a P/E ratio of 14.97, a PEG ratio of 2.00 and a beta of 1.30. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The firm’s 50 day simple moving average is $44.93 and its two-hundred day simple moving average is $41.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate 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, analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is 30.87%.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by company 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.