Brown Financial Advisors Invests $820,000 in Baker Hughes (NASDAQ:BKR)

Brown Financial Advisors purchased a new stake in Baker Hughes (NASDAQ:BKR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,991 shares of the company’s stock, valued at approximately $820,000.

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of Baker Hughes by 0.5% in the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after acquiring an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after purchasing an additional 2,811,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Baker Hughes by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after purchasing an additional 145,537 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Baker Hughes by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock worth $251,304,000 after purchasing an additional 22,383 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Baker Hughes by 0.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company’s stock worth $230,271,000 after purchasing an additional 45,324 shares during the period. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Performance

Shares of BKR stock opened at $44.62 on Tuesday. The business’s 50-day moving average price is $44.33 and its 200-day moving average price is $40.31. Baker Hughes has a 12 month low of $29.19 and a 12 month high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $44.18 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 2.00 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last posted 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 net margin of 10.70% and a return on equity of 14.58%. Equities research analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The business 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is 30.87%.

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction 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 completion of the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BKR shares. Bank of America boosted their price target on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company upped their target price on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group increased their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada raised their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.06.

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.