Baker Hughes (NASDAQ:BKR) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 455,714 shares of the company's stock after purchasing an additional 47,404 shares during the period. Wellington Management Group LLP's holdings in Baker Hughes were worth $18,693,000 at the end of the most recent reporting period.

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Other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin Edwards Inc. acquired a new position in Baker Hughes in the third quarter valued at $283,000. Morse Asset Management Inc purchased a new position in Baker Hughes during the 3rd quarter worth $1,263,000. Quadrature Capital Ltd acquired a new position in shares of Baker Hughes during the third quarter worth about $322,000. EP Wealth Advisors LLC purchased a new position in Baker Hughes during the third quarter worth about $637,000. Finally, Orion Portfolio Solutions LLC lifted its position in Baker Hughes by 4.8% in the third quarter. Orion Portfolio Solutions LLC now owns 33,758 shares of the company's stock valued at $1,220,000 after purchasing an additional 1,549 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays cut 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. Royal Bank of Canada boosted their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Jefferies Financial Group raised their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Citigroup lowered their target price on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Piper Sandler lifted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $51.18.

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Check Out Our Latest Stock Report on Baker Hughes

Baker Hughes Stock Performance

Baker Hughes stock opened at $35.00 on Wednesday. The stock has a fifty day moving average price of $43.91 and a 200 day moving average price of $42.01. 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 has a 52 week low of $30.93 and a 52 week high of $49.40. The firm has a market capitalization of $34.65 billion, a P/E ratio of 11.74, a PEG ratio of 2.00 and a beta of 1.08.

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Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Equities research analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio (DPR) is 30.87%.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the business'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 completion of the sale, the executive vice president now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company's stock.

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.

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