Baker Hughes (NASDAQ:BKR) Shares Bought by Ethic Inc.

by · The Cerbat Gem

Ethic Inc. grew its holdings in Baker Hughes (NASDAQ:BKR – Free Report) by 36.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,425 shares of the company’s stock after buying an additional 40,418 shares during the quarter. Ethic Inc.’s holdings in Baker Hughes were worth $6,211,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BKR. Capital Research Global Investors increased its stake in Baker Hughes by 0.6% during the 4th quarter. Capital Research Global Investors now owns 27,687,590 shares of the company’s stock worth $1,135,744,000 after buying an additional 177,232 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock worth $1,004,212,000 after purchasing an additional 465,832 shares in the last quarter. Norges Bank acquired a new position in Baker Hughes in the 4th quarter valued at $829,092,000. FMR LLC lifted its holdings in Baker Hughes by 12.5% in the 4th quarter. FMR LLC now owns 15,702,057 shares of the company’s stock valued at $644,098,000 after purchasing an additional 1,744,225 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Baker Hughes by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company’s stock valued at $473,880,000 after purchasing an additional 874,297 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of BKR stock opened at $36.49 on Friday. 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 $36.15 billion, a P/E ratio of 12.24, a P/E/G ratio of 2.00 and a beta of 0.96. The firm’s 50 day moving average price is $39.72 and its 200-day moving average price is $42.00. Baker Hughes has a one year low of $30.93 and a one year high of $49.40.

Baker Hughes (NASDAQ:BKR – Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.54 billion. As a group, equities research analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes’s dividend payout ratio is currently 31.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler reduced their target price on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. TD Cowen cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Susquehanna lowered their target price on Baker Hughes from $48.00 to $46.00 and set a “positive” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group upped their price target on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Citigroup reduced their price objective on Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.11.

Check Out Our Latest Analysis on BKR

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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