Baker Hughes (NASDAQ:BKR) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in shares of Baker Hughes (NASDAQ:BKR) by 16.7% in the 4th quarter, HoldingsChannel reports. The fund owned 175,762 shares of the company’s stock after buying an additional 25,194 shares during the quarter. Quantinno Capital Management LP’s holdings in Baker Hughes were worth $7,210,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BKR. Norges Bank acquired a new position in shares of Baker Hughes during the 4th quarter worth about $829,092,000. Raymond James Financial Inc. purchased a new stake in shares of Baker Hughes in the 4th quarter valued at about $291,289,000. Neuberger Berman Group LLC lifted its holdings in shares of Baker Hughes by 2,527.6% in the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock valued at $136,158,000 after purchasing an additional 3,193,089 shares during the last quarter. Congress Asset Management Co. purchased a new stake in shares of Baker Hughes in the 4th quarter valued at about $107,155,000. Finally, FMR LLC lifted its holdings in shares of Baker Hughes by 12.5% in the 4th quarter. FMR LLC now owns 15,702,057 shares of the company’s stock valued at $644,098,000 after purchasing an additional 1,744,225 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Citigroup reduced their target price on Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. TD Cowen reduced their target price on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Barclays reduced their target price on Baker Hughes from $54.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Finally, Piper Sandler reduced their target price on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

Baker Hughes Stock Performance

Shares of BKR stock opened at $37.79 on Friday. The company has a market cap of $37.44 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The stock has a 50 day simple moving average of $39.30 and a 200-day simple moving average of $42.02. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, equities analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) is 31.40%.

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.