Russell Investments Group Ltd. Purchases 1,200,407 Shares of Baker Hughes (NASDAQ:BKR)

Russell Investments Group Ltd. boosted its position in Baker Hughes (NASDAQ:BKR) by 101.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,383,918 shares of the company’s stock after acquiring an additional 1,200,407 shares during the period. Russell Investments Group Ltd.’s holdings in Baker Hughes were worth $81,484,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Syon Capital LLC raised its holdings in Baker Hughes by 65.5% in the fourth quarter. Syon Capital LLC now owns 27,889 shares of the company’s stock worth $953,000 after purchasing an additional 11,040 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Baker Hughes by 4.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 26,064 shares of the company’s stock worth $891,000 after purchasing an additional 1,226 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in Baker Hughes by 6.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 19,298 shares of the company’s stock worth $660,000 after purchasing an additional 1,130 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in Baker Hughes by 11.3% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 8,842 shares of the company’s stock worth $301,000 after purchasing an additional 897 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in Baker Hughes in the fourth quarter worth about $139,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Price Performance

NASDAQ BKR traded down $0.46 during mid-day trading on Friday, hitting $32.84. The stock had a trading volume of 8,318,500 shares, compared to its average volume of 5,927,995. The firm’s 50 day moving average is $32.05 and its 200 day moving average is $32.53. Baker Hughes has a twelve month low of $26.81 and a twelve month high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. The stock has a market capitalization of $32.87 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 0.62 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The firm had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the company earned $0.28 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Baker Hughes will post 2.08 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BKR. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. UBS Group upped their target price on Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. The Goldman Sachs Group upped their target price on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Finally, Susquehanna restated a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a research report on Monday, April 8th. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.94.

Insiders Place Their Bets

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

Baker Hughes Profile

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.