Ninety One UK Ltd Boosts Holdings in Baker Hughes (NASDAQ:BKR)

Ninety One UK Ltd raised its position in shares of Baker Hughes (NASDAQ:BKR) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 481,446 shares of the company’s stock after purchasing an additional 51,212 shares during the quarter. Ninety One UK Ltd’s holdings in Baker Hughes were worth $19,749,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. grew its holdings in Baker Hughes by 47.7% during the 4th quarter. Mather Group LLC. now owns 12,538 shares of the company’s stock valued at $514,000 after buying an additional 4,051 shares in the last quarter. Resonant Capital Advisors LLC purchased a new stake in Baker Hughes during the fourth quarter valued at approximately $226,000. JB Capital LLC lifted its stake in shares of Baker Hughes by 4.9% in the 4th quarter. JB Capital LLC now owns 80,602 shares of the company’s stock valued at $3,306,000 after purchasing an additional 3,757 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Baker Hughes by 1.2% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 138,308 shares of the company’s stock worth $5,662,000 after purchasing an additional 1,653 shares during the period. Finally, Greenleaf Trust boosted its holdings in shares of Baker Hughes by 4.1% in the 4th quarter. Greenleaf Trust now owns 13,559 shares of the company’s stock worth $556,000 after purchasing an additional 535 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BKR shares. BMO Capital Markets lifted their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Evercore ISI lifted their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Benchmark reiterated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Jefferies Financial Group lifted their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.18.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

Baker Hughes Stock Up 1.9 %

Shares of NASDAQ:BKR opened at $48.85 on Thursday. Baker Hughes has a 52-week low of $28.63 and a 52-week high of $48.94. The stock has a market cap of $48.34 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The business’s 50 day moving average is $43.20 and its 200 day moving average is $39.28. 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 announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts predict that Baker Hughes will post 2.55 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be paid a $0.23 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.88%. Baker Hughes’s payout ratio is 28.19%.

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.