Gradient Investments LLC Invests $13.32 Million in Baker Hughes (NASDAQ:BKR)

Gradient Investments LLC acquired a new stake in shares of Baker Hughes (NASDAQ:BKR) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 324,617 shares of the company’s stock, valued at approximately $13,316,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes during the 3rd quarter valued at $30,000. True Wealth Design LLC increased its position in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the last quarter. Continuum Advisory LLC lifted its stake in shares of Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares during the period. Quarry LP boosted its holdings in shares of Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after buying an additional 714 shares during the last quarter. Finally, Eastern Bank grew its position in Baker Hughes by 598.4% during the fourth quarter. Eastern Bank now owns 1,739 shares of the company’s stock valued at $71,000 after buying an additional 1,490 shares during the period. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

BKR stock opened at $45.55 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The company’s fifty day moving average price is $42.96 and its 200-day moving average price is $38.66. Baker Hughes has a one year low of $28.32 and a one year high of $47.47. The company has a market capitalization of $45.07 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. On average, equities analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on BKR shares. The Goldman Sachs Group increased their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler initiated coverage on Baker Hughes in a research report on Thursday, December 19th. They set an “overweight” rating and a $53.00 target price on the stock. Royal Bank of Canada upped their price target on Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. TD Cowen lowered their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Morgan Stanley increased their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.06.

About Baker Hughes

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.