Independent Advisor Alliance Invests $238,000 in Baker Hughes (NASDAQ:BKR)

Independent Advisor Alliance bought a new stake in shares of Baker Hughes (NASDAQ:BKR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 5,803 shares of the company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. lifted its position in shares of Baker Hughes by 6.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 196,988 shares of the company’s stock worth $8,080,000 after purchasing an additional 11,761 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Baker Hughes by 10.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 480,851 shares of the company’s stock worth $19,725,000 after buying an additional 44,196 shares during the period. Sowell Financial Services LLC boosted its position in Baker Hughes by 34.9% during the 4th quarter. Sowell Financial Services LLC now owns 20,495 shares of the company’s stock valued at $841,000 after acquiring an additional 5,306 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Baker Hughes during the 4th quarter worth approximately $47,000. Finally, Dorsey & Whitney Trust CO LLC raised its position in shares of Baker Hughes by 11.8% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 12,267 shares of the company’s stock worth $503,000 after acquiring an additional 1,292 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BKR shares. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Stifel Nicolaus increased their price target 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. TD Cowen lowered 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. Royal Bank of Canada upped 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. Finally, Susquehanna lifted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Stock Up 2.1 %

Shares of Baker Hughes stock opened at $44.60 on Thursday. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $44.93 and its 200 day moving average is $41.23. The company has a market cap of $44.16 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last released 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%. Research analysts anticipate that Baker Hughes will post 2.59 EPS 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 paid a dividend of $0.23 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s payout ratio is currently 30.87%.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction on Monday, January 27th. The shares were 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 of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

Baker Hughes 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.