Zurcher Kantonalbank Zurich Cantonalbank Buys 44,196 Shares of Baker Hughes (NASDAQ:BKR)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Baker Hughes (NASDAQ:BKR) by 10.1% during the fourth quarter, Holdings Channel reports. The firm owned 480,851 shares of the company’s stock after acquiring an additional 44,196 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Baker Hughes were worth $19,725,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BKR. Farther Finance Advisors LLC increased its holdings in Baker Hughes by 51.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,574 shares of the company’s stock valued at $129,000 after buying an additional 1,208 shares during the period. Assetmark Inc. raised its position in Baker Hughes by 6.5% during the third quarter. Assetmark Inc. now owns 20,163 shares of the company’s stock valued at $729,000 after purchasing an additional 1,230 shares in the last quarter. Atria Investments Inc lifted its stake in Baker Hughes by 11.3% during the third quarter. Atria Investments Inc now owns 14,822 shares of the company’s stock worth $536,000 after purchasing an additional 1,505 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Baker Hughes by 2.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,795 shares of the company’s stock valued at $1,620,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on BKR shares. Wells Fargo & Company upped their price objective on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI increased their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Bank of America lifted their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Barclays increased their price objective 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. Finally, Stifel Nicolaus boosted their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.06.

Baker Hughes Stock Up 1.7 %

Shares of NASDAQ:BKR opened at $41.85 on Wednesday. The firm has a market cap of $41.44 billion, a P/E ratio of 14.04, a P/E/G ratio of 2.00 and a beta of 1.30. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The business has a fifty day simple moving average of $44.84 and a 200 day simple moving average of $40.94. 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 issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating 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%. Analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were issued 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 of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.20%. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the 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 completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

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.