Dorsey & Whitney Trust CO LLC Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Dorsey & Whitney Trust CO LLC lifted its holdings in Baker Hughes (NASDAQ:BKR) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,267 shares of the company’s stock after purchasing an additional 1,292 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Baker Hughes were worth $503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKR. JFS Wealth Advisors LLC boosted its stake in Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after buying an additional 386 shares during the period. Ashton Thomas Securities LLC purchased a new position in Baker Hughes during the third quarter worth $30,000. SBI Securities Co. Ltd. purchased a new position in Baker Hughes during the fourth quarter worth $30,000. Larson Financial Group LLC boosted its stake in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares during the period. Finally, True Wealth Design LLC boosted its stake in 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 buying an additional 829 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on BKR. Royal Bank of Canada lifted their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Barclays boosted their target price on shares of Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. TD Cowen lowered their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Bank of America boosted their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Insider Transactions at Baker Hughes

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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Performance

BKR stock opened at $41.16 on Tuesday. Baker Hughes has a 1-year low of $30.52 and a 1-year high of $49.40. The company has a market capitalization of $40.75 billion, a P/E ratio of 13.81, a PEG ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The business has a 50-day moving average price of $44.82 and a 200 day moving average price of $40.89.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results 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%. As a group, equities research analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm 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. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.24%. Baker Hughes’s payout ratio is presently 30.87%.

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.