Baker Hughes (NASDAQ:BKR) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Baker Hughes (NASDAQ:BKR) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,541,076 shares of the company’s stock after buying an additional 45,324 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Baker Hughes were worth $230,271,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BKR. CWM LLC increased its position in shares of Baker Hughes by 56.4% in the 3rd quarter. CWM LLC now owns 48,422 shares of the company’s stock valued at $1,750,000 after purchasing an additional 17,467 shares during the last quarter. Ritholtz Wealth Management increased its holdings in Baker Hughes by 96.8% in the third quarter. Ritholtz Wealth Management now owns 25,631 shares of the company’s stock valued at $927,000 after buying an additional 12,606 shares during the last quarter. Inspire Investing LLC purchased a new position in Baker Hughes in the third quarter valued at $844,000. Exchange Traded Concepts LLC raised its stake in Baker Hughes by 93.6% in the third quarter. Exchange Traded Concepts LLC now owns 19,522 shares of the company’s stock valued at $706,000 after buying an additional 9,440 shares in the last quarter. Finally, Creative Planning lifted its holdings in Baker Hughes by 12.3% during the 3rd quarter. Creative Planning now owns 69,572 shares of the company’s stock worth $2,515,000 after buying an additional 7,596 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Jefferies Financial Group increased their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Citigroup increased their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Susquehanna upped their price objective on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.25% of the stock is owned by company insiders.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $47.11 on Wednesday. Baker Hughes has a 12 month low of $28.63 and a 12 month high of $49.40. The firm has a market capitalization of $46.62 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. The business’s 50 day simple moving average is $43.49 and its 200-day simple moving average is $39.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, equities analysts forecast that Baker Hughes will post 2.57 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 11th. 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 1.95%. Baker Hughes’s payout ratio is 28.19%.

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.