Baker Hughes (NASDAQ:BKR) Shares Purchased by Massachusetts Wealth Management

Massachusetts Wealth Management lifted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 230.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,475 shares of the company’s stock after purchasing an additional 20,550 shares during the quarter. Massachusetts Wealth Management’s holdings in Baker Hughes were worth $1,209,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BKR. Ashton Thomas Securities LLC purchased a new position in Baker Hughes in the third quarter worth approximately $30,000. True Wealth Design LLC grew its stake in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares in the last quarter. Continuum Advisory LLC increased its holdings in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after buying an additional 796 shares during the last quarter. Eastern Bank raised its stake in Baker Hughes by 598.4% in the fourth quarter. Eastern Bank now owns 1,739 shares of the company’s stock valued at $71,000 after buying an additional 1,490 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Baker Hughes in the 3rd quarter valued at about $103,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Buying and Selling

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 sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BKR shares. Royal Bank of Canada boosted their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday. BMO Capital Markets upped their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Evercore ISI upped their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Finally, Piper Sandler lifted their price target on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.18.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $47.96 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $43.20 and a 200 day moving average price of $39.28. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $48.04. The company has a market cap of $47.46 billion, a P/E ratio of 16.09, a PEG ratio of 0.89 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data 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 return on equity of 14.58% and a net margin of 10.70%. Research analysts predict that Baker Hughes will post 2.55 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is currently 28.19%.

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.