Minneapolis Portfolio Management Group LLC Purchases 6,383 Shares of Baker Hughes (NASDAQ:BKR)

Minneapolis Portfolio Management Group LLC increased its position in Baker Hughes (NASDAQ:BKR) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 581,742 shares of the company’s stock after acquiring an additional 6,383 shares during the quarter. Baker Hughes comprises about 3.1% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its 18th biggest position. Minneapolis Portfolio Management Group LLC’s holdings in Baker Hughes were worth $23,863,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Dynasty Wealth Management LLC raised its holdings in Baker Hughes by 2.7% in the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after acquiring an additional 207 shares during the period. Larson Financial Group LLC increased its holdings in shares of Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the period. Alpine Woods Capital Investors LLC increased its holdings in shares of Baker Hughes by 0.7% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock worth $1,660,000 after purchasing an additional 267 shares during the period. Cromwell Holdings LLC increased its holdings in shares of Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after purchasing an additional 269 shares during the period. Finally, 180 Wealth Advisors LLC increased its holdings in shares of Baker Hughes by 1.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after purchasing an additional 295 shares during the period. Institutional investors own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BKR. TD Cowen dropped their price objective 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. Jefferies Financial Group boosted their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Evercore ISI boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Finally, Bank of America lifted their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Baker Hughes Price Performance

NASDAQ:BKR opened at $44.11 on Monday. The firm has a market cap of $43.67 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $44.97 and its two-hundred day moving average price is $41.42.

Baker Hughes (NASDAQ:BKR) last released 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 net margin of 10.70% and a return on equity of 14.58%. On average, equities analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a $0.23 dividend. 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. This represents a $0.92 dividend on an annualized basis and a yield of 2.09%. Baker Hughes’s payout ratio is 30.87%.

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.