Huntington National Bank Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Huntington National Bank boosted its position in shares of Baker Hughes (NASDAQ:BKR) by 16.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 116,303 shares of the company’s stock after purchasing an additional 16,010 shares during the period. Huntington National Bank’s holdings in Baker Hughes were worth $4,771,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Baker Hughes in the fourth quarter valued at approximately $829,092,000. Raymond James Financial Inc. acquired a new stake in Baker Hughes during the 4th quarter worth approximately $291,289,000. Congress Asset Management Co. acquired a new position in shares of Baker Hughes in the fourth quarter worth $107,155,000. Yaupon Capital Management LP purchased a new stake in shares of Baker Hughes during the third quarter worth $47,296,000. Finally, Natixis Advisors LLC raised its stake in shares of Baker Hughes by 217.5% in the fourth quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock valued at $70,901,000 after acquiring an additional 1,184,036 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $44.92 on Thursday. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The company has a 50-day moving average price of $44.69 and a 200 day moving average price of $41.97. The company has a market cap of $44.48 billion, a P/E ratio of 15.07, a PEG ratio of 2.00 and a beta of 1.08. 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 (NASDAQ:BKR) last posted its quarterly earnings results 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 return on equity of 14.58% and a net margin of 10.70%. Research analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.05%. Baker Hughes’s dividend payout ratio is 30.87%.

Analysts Set New Price Targets

Several research firms recently commented on BKR. 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, February 3rd. TD Cowen lowered their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group upped their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Susquehanna boosted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. Finally, Barclays reduced their price objective on shares of Baker Hughes from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Monday. Two equities research 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 an average target price of $51.00.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was 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 in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Baker Hughes Company 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.