Harvest Fund Management Co. Ltd Acquires 9,466 Shares of Baker Hughes (NASDAQ:BKR)

Harvest Fund Management Co. Ltd increased its holdings in Baker Hughes (NASDAQ:BKR) by 19.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,236 shares of the company’s stock after buying an additional 9,466 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Baker Hughes were worth $2,389,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Xponance Inc. raised its stake in Baker Hughes by 0.3% in the fourth quarter. Xponance Inc. now owns 143,421 shares of the company’s stock worth $5,883,000 after buying an additional 367 shares in the last quarter. Generali Asset Management SPA SGR bought a new position in Baker Hughes in the fourth quarter worth approximately $7,824,000. Advisors Asset Management Inc. raised its stake in Baker Hughes by 11.7% in the fourth quarter. Advisors Asset Management Inc. now owns 99,942 shares of the company’s stock worth $4,100,000 after buying an additional 10,454 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Baker Hughes by 10.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 496,223 shares of the company’s stock worth $20,355,000 after purchasing an additional 48,550 shares during the last quarter. Finally, Tocqueville Asset Management L.P. grew its holdings in Baker Hughes by 7.3% in the fourth quarter. Tocqueville Asset Management L.P. now owns 87,393 shares of the company’s stock worth $3,585,000 after purchasing an additional 5,975 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Stifel Nicolaus lifted their price target 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. Royal Bank of Canada lifted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Barclays lifted their price target on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

NASDAQ:BKR opened at $44.60 on Thursday. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a market cap of $44.16 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 2.00 and a beta of 1.30. The firm’s fifty day moving average is $44.93 and its two-hundred day moving average is $41.23.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Research analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently declared 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 2.06%. 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 dividend payout ratio is presently 30.87%.

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.