Custom Index Systems LLC Invests $286,000 in Baker Hughes (NASDAQ:BKR)

Custom Index Systems LLC purchased a new position in Baker Hughes (NASDAQ:BKRFree Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 8,370 shares of the company’s stock, valued at approximately $286,000.

A number of other institutional investors also recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Baker Hughes by 0.5% in the 1st quarter. State Street Corp now owns 67,473,141 shares of the company’s stock worth $1,947,274,000 after acquiring an additional 365,013 shares during the period. Geode Capital Management LLC raised its holdings in shares of Baker Hughes by 2.4% in the 1st quarter. Geode Capital Management LLC now owns 21,391,034 shares of the company’s stock worth $615,984,000 after purchasing an additional 495,677 shares in the last quarter. FMR LLC raised its holdings in shares of Baker Hughes by 16.8% in the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after purchasing an additional 2,316,638 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Baker Hughes by 4.0% in the 3rd quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock worth $346,729,000 after purchasing an additional 379,385 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Baker Hughes by 8.6% in the 3rd quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock worth $333,627,000 after purchasing an additional 745,511 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Down 0.5 %

Baker Hughes stock opened at $33.99 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The firm has a market cap of $34.02 billion, a PE ratio of 17.80, a P/E/G ratio of 0.71 and a beta of 1.42. Baker Hughes has a twelve month low of $26.81 and a twelve month high of $37.58. The firm’s 50 day moving average price is $31.28 and its two-hundred day moving average price is $32.72.

Baker Hughes (NASDAQ:BKRGet Free Report) last posted its earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, research analysts predict that Baker Hughes will post 2.07 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.47%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, February 12th. Baker Hughes’s payout ratio is currently 43.98%.

Insiders Place Their Bets

In related news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. TD Cowen boosted their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Royal Bank of Canada restated an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a report on Thursday, February 1st. Barclays cut their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Susquehanna restated a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a report on Monday. Finally, Citigroup cut their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $40.87.

Get Our Latest Analysis on Baker Hughes

About Baker Hughes

(Free Report)

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.

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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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