Icon Advisers Inc. Co. Has $6.35 Million Stock Holdings in Baker Hughes (NASDAQ:BKR)

Icon Advisers Inc. Co. lessened its holdings in Baker Hughes (NASDAQ:BKR) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,773 shares of the company’s stock after selling 2,900 shares during the quarter. Baker Hughes accounts for approximately 1.4% of Icon Advisers Inc. Co.’s holdings, making the stock its 9th biggest holding. Icon Advisers Inc. Co.’s holdings in Baker Hughes were worth $6,349,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Strategic Financial Concepts LLC acquired a new stake in shares of Baker Hughes in the 4th quarter valued at $640,000. Burney Co. lifted its holdings in Baker Hughes by 315.0% during the 4th 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 during the last quarter. Geode Capital Management LLC boosted its position in Baker Hughes by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock valued at $1,004,212,000 after buying an additional 465,832 shares in the last quarter. Northstar Advisory Group LLC bought a new stake in Baker Hughes during the fourth quarter worth about $1,180,000. Finally, Artemis Investment Management LLP increased its holdings in shares of Baker Hughes by 29.4% during the fourth 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. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity

In other 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 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 can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Benchmark restated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. Barclays lowered their target price on Baker Hughes from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Wells Fargo & Company upped their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler increased their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group lifted their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.18.

Baker Hughes Trading Up 3.5 %

NASDAQ BKR opened at $37.93 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $43.23 and a 200-day moving average of $42.07. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The company has a market cap of $37.55 billion, a PE ratio of 12.73, a PEG ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were issued a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.43%. Baker Hughes’s payout ratio is currently 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.