Zurcher Kantonalbank Zurich Cantonalbank Acquires 6,929 Shares of Baker Hughes (NASDAQ:BKR)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Baker Hughes (NASDAQ:BKR) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 414,396 shares of the company’s stock after buying an additional 6,929 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Baker Hughes were worth $14,164,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BKR. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Baker Hughes during the 1st quarter valued at about $321,000. D.A. Davidson & CO. bought a new stake in shares of Baker Hughes during the 1st quarter valued at about $230,000. Synovus Financial Corp lifted its position in shares of Baker Hughes by 31.7% during the 1st quarter. Synovus Financial Corp now owns 13,399 shares of the company’s stock valued at $488,000 after buying an additional 3,226 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of Baker Hughes by 197.9% during the 1st quarter. Cibc World Market Inc. now owns 36,783 shares of the company’s stock valued at $1,339,000 after buying an additional 24,434 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Baker Hughes by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,748,743 shares of the company’s stock valued at $172,934,000 after buying an additional 204,220 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Performance

NASDAQ BKR opened at $32.20 on Friday. The company has a market cap of $32.23 billion, a P/E ratio of 16.86, a P/E/G ratio of 0.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The business’s 50 day moving average price is $31.61 and its 200-day moving average price is $32.59. Baker Hughes has a fifty-two week low of $26.81 and a fifty-two week high of $37.58.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. Sell-side analysts predict that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.61%. The ex-dividend date was Monday, February 12th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s dividend payout ratio is 43.98%.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of analyst reports. Barclays lowered their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. TD Cowen boosted their price target on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Susquehanna reissued a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Citigroup lowered their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Finally, Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $40.87.

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.