Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 314,300 Shares of Baker Hughes (NASDAQ:BKR)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Baker Hughes (NASDAQ:BKR) by 31.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,324,103 shares of the company’s stock after purchasing an additional 314,300 shares during the quarter. Baker Hughes comprises approximately 0.5% of Fjarde AP Fonden Fourth Swedish National Pension Fund’s investment portfolio, making the stock its 29th largest position. Fjarde AP Fonden Fourth Swedish National Pension Fund owned approximately 0.13% of Baker Hughes worth $54,315,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BKR. Creative Planning raised its holdings in Baker Hughes by 12.3% during the 3rd quarter. Creative Planning now owns 69,572 shares of the company’s stock worth $2,515,000 after purchasing an additional 7,596 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Baker Hughes by 156.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 19,873 shares of the company’s stock valued at $718,000 after acquiring an additional 12,137 shares in the last quarter. Signaturefd LLC increased its stake in shares of Baker Hughes by 38.9% in the 3rd quarter. Signaturefd LLC now owns 9,569 shares of the company’s stock valued at $346,000 after acquiring an additional 2,679 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Baker Hughes by 15.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 40,838 shares of the company’s stock valued at $1,476,000 after acquiring an additional 5,570 shares in the last quarter. Finally, Tectonic Advisors LLC increased its stake in shares of Baker Hughes by 5.6% in the 3rd quarter. Tectonic Advisors LLC now owns 13,019 shares of the company’s stock valued at $471,000 after acquiring an additional 687 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly 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 SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BKR. Jefferies Financial Group lifted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. TD Cowen reduced their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Citigroup lifted their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Finally, 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 report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $45.62 on Friday. Baker Hughes has a fifty-two week low of $28.88 and a fifty-two week high of $49.40. The company’s 50-day moving average is $44.28 and its 200 day moving average is $40.21. The company has a market capitalization of $45.17 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

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, 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 forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a $0.23 dividend. 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 yield of 2.02%. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s payout ratio is currently 30.87%.

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.