Ilmarinen Mutual Pension Insurance Co Acquires 39,000 Shares of Baker Hughes (NASDAQ:BKR)

Ilmarinen Mutual Pension Insurance Co grew its holdings in Baker Hughes (NASDAQ:BKR) by 39.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 139,000 shares of the company’s stock after acquiring an additional 39,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Baker Hughes were worth $5,702,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in Baker Hughes during the 4th quarter worth about $640,000. Burney Co. increased its holdings in shares of Baker Hughes by 315.0% in the fourth quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after purchasing an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC bought a new position in Baker Hughes in the 4th quarter worth approximately $1,180,000. Artemis Investment Management LLP lifted its holdings in Baker Hughes by 29.4% during the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after buying an additional 239,773 shares in the last quarter. Finally, Czech National Bank boosted its position in Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after buying an additional 12,178 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Down 13.3 %

Baker Hughes stock opened at $35.41 on Friday. The company has a 50 day moving average of $44.40 and a 200-day moving average of $42.02. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The stock has a market capitalization of $35.06 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, equities research analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.60%. 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 dividend payout ratio (DPR) is currently 30.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BKR shares. Barclays cut their price target on Baker Hughes from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Susquehanna raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Bank of America lifted their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Benchmark reissued a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a research note on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes 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 value of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company 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.