Key Financial Inc Increases Stake in Baker Hughes (NASDAQ:BKR)

Key Financial Inc increased its holdings in Baker Hughes (NASDAQ:BKR) by 16.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,676 shares of the company’s stock after purchasing an additional 376 shares during the period. Key Financial Inc’s holdings in Baker Hughes were worth $110,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BKR. Kestra Investment Management LLC bought a new stake in Baker Hughes during the 4th quarter valued at $45,000. D.A. Davidson & CO. bought a new stake in Baker Hughes during the 4th quarter valued at $2,452,000. Empower Advisory Group LLC raised its holdings in Baker Hughes by 1.9% during the 4th quarter. Empower Advisory Group LLC now owns 2,110,969 shares of the company’s stock valued at $86,592,000 after buying an additional 39,793 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Baker Hughes by 3.2% during the 4th quarter. CIBC Asset Management Inc now owns 318,401 shares of the company’s stock valued at $13,061,000 after buying an additional 9,764 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its holdings in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after buying an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR stock opened at $46.98 on Wednesday. Baker Hughes has a one year low of $28.66 and a one year high of $49.40. The company’s 50-day moving average is $44.03 and its 200 day moving average is $39.99. The company has a market capitalization of $46.49 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is presently 28.19%.

Analysts Set New Price Targets

BKR has been the subject of a number of recent analyst reports. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada upped their price target 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. Stifel Nicolaus upped their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company upped their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Barclays upped their price objective 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 company’s stock. According to data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $51.06.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction 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 trade represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.25% of the company’s stock.

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.