Baxter Bros Inc. Takes Position in Baker Hughes (NASDAQ:BKR)

Baxter Bros Inc. bought a new stake in shares of Baker Hughes (NASDAQ:BKR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,184 shares of the company’s stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its position in Baker Hughes by 135.9% during 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. bought a new stake in shares of Baker Hughes in the fourth quarter valued at about $30,000. Larson Financial Group LLC grew its position in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares in the last quarter. True Wealth Design LLC increased its stake in Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares during the period. Finally, Groupama Asset Managment lifted its position in shares of Baker Hughes by 1,045.1% in the 3rd 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. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the subject of several research reports. Royal Bank of Canada raised their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Barclays increased their price target on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Benchmark reaffirmed a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Finally, Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $51.06.

Baker Hughes Stock Performance

BKR stock opened at $44.60 on Tuesday. The company has a 50 day moving average price of $44.96 and a 200 day moving average price of $41.50. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week 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 stock has a market capitalization of $44.16 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last released its earnings results 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 forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. 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 yield of 2.06%. Baker Hughes’s dividend payout ratio is presently 30.87%.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the 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 transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

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.