Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Baker Hughes (NASDAQ:BKR)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Baker Hughes (NASDAQ:BKR) by 1.7% during the fourth quarter, HoldingsChannel reports. The fund owned 414,396 shares of the company’s stock after purchasing an additional 6,929 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Baker Hughes were worth $14,164,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new position in shares of Baker Hughes in the 4th quarter valued at about $33,000. OFI Invest Asset Management acquired a new stake in shares of Baker Hughes in the 3rd quarter valued at about $36,000. Quarry LP boosted its position in shares of Baker Hughes by 41.3% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $36,000 after purchasing an additional 331 shares during the period. Rational Advisors LLC boosted its position in shares of Baker Hughes by 44.0% in the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after purchasing an additional 382 shares during the period. Finally, Covestor Ltd boosted its position in shares of Baker Hughes by 104.7% in the 1st quarter. Covestor Ltd now owns 1,349 shares of the company’s stock valued at $49,000 after purchasing an additional 690 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Baker Hughes Stock Performance

NASDAQ BKR opened at $32.20 on Friday. Baker Hughes has a 1-year low of $26.81 and a 1-year high of $37.58. The company has a market capitalization of $32.23 billion, a P/E ratio of 16.86, a PEG ratio of 0.61 and a beta of 1.42. The business has a 50 day moving average price of $31.61 and a 200 day moving average price of $32.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the business posted $0.38 EPS. Baker Hughes’s quarterly revenue was up 15.7% on a year-over-year basis. Sell-side analysts expect that Baker Hughes will post 2.07 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were given a dividend of $0.21 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.84 annualized dividend and a yield of 2.61%. Baker Hughes’s dividend payout ratio (DPR) is presently 43.98%.

Analyst Ratings Changes

BKR has been the subject of a number of research analyst reports. Citigroup decreased their target price on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. TD Cowen upped their target price on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Susquehanna reissued a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. Finally, Barclays decreased their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.87.

About Baker Hughes

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.