Meiji Yasuda Asset Management Co Ltd. Increases Holdings in Baker Hughes (NASDAQ:BKR)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in Baker Hughes (NASDAQ:BKR) by 38.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,409 shares of the company’s stock after buying an additional 20,724 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Baker Hughes were worth $3,052,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BKR. JFS Wealth Advisors LLC increased its stake in shares of Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Baker Hughes during the 4th quarter valued at about $30,000. Larson Financial Group LLC lifted its holdings in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after buying an additional 216 shares during the period. True Wealth Design LLC grew its holdings in Baker Hughes by 2,181.6% during 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 grew its holdings in Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after acquiring an additional 811,711 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares in the company, 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 through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Trading Up 1.3 %

Shares of Baker Hughes stock opened at $45.18 on Wednesday. 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 stock’s 50 day simple moving average is $44.97 and its 200-day simple moving average is $41.58. The stock has a market cap of $44.73 billion, a P/E ratio of 15.16, a P/E/G ratio of 2.00 and a beta of 1.30. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR) last released 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 return on equity of 14.58% and a net margin of 10.70%. 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. Shareholders of record on Tuesday, February 11th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.04%. This is a positive change 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 presently 30.87%.

Wall Street Analysts Forecast Growth

BKR has been the topic of several recent research reports. Piper Sandler upped their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company raised their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group upped 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. Susquehanna lifted their price target on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Finally, Bank of America raised their price objective on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Two equities 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, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $51.06.

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.