Focus Partners Wealth Buys 3,641 Shares of Baker Hughes (NASDAQ:BKR)

Focus Partners Wealth raised its stake in shares of Baker Hughes (NASDAQ:BKR) by 26.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,495 shares of the company’s stock after purchasing an additional 3,641 shares during the period. Focus Partners Wealth’s holdings in Baker Hughes were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital Research Global Investors raised its position in Baker Hughes by 0.6% in the 4th quarter. Capital Research Global Investors now owns 27,687,590 shares of the company’s stock worth $1,135,744,000 after purchasing an additional 177,232 shares during the period. Geode Capital Management LLC boosted its stake in shares of Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock valued at $1,004,212,000 after purchasing an additional 465,832 shares in the last quarter. Norges Bank bought a new position in shares of Baker Hughes during the fourth quarter valued at approximately $829,092,000. FMR LLC boosted its stake in shares of Baker Hughes by 12.5% during the fourth 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Baker Hughes by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company’s stock valued at $473,880,000 after purchasing an additional 874,297 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 0.2%

Shares of NASDAQ:BKR opened at $37.79 on Monday. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The company’s 50 day moving average is $39.30 and its two-hundred day moving average is $42.08. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The company has a market cap of $37.44 billion, a PE ratio of 12.68, a P/E/G ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. Equities analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were given a $0.23 dividend. 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 is presently 31.40%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BKR. Evercore ISI lowered their target price on shares of Baker Hughes from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Royal Bank of Canada lowered their target price on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Susquehanna decreased their price target on shares of Baker Hughes from $48.00 to $46.00 and set a “positive” rating for the company in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.11.

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.