Howard Capital Management Inc. Purchases 893 Shares of Baker Hughes (NASDAQ:BKR)

Howard Capital Management Inc. increased its position in Baker Hughes (NASDAQ:BKR) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,082 shares of the company’s stock after purchasing an additional 893 shares during the period. Howard Capital Management Inc.’s holdings in Baker Hughes were worth $1,234,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Cromwell Holdings LLC grew its position in shares of Baker Hughes by 9.3% in the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after buying an additional 269 shares during the period. Bridges Investment Management Inc. grew its holdings in Baker Hughes by 3.1% in the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after purchasing an additional 273 shares during the period. 180 Wealth Advisors LLC increased its stake in shares of Baker Hughes by 1.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after purchasing an additional 295 shares in the last quarter. Graypoint LLC lifted its holdings in shares of Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after purchasing an additional 301 shares during the last quarter. Finally, Key Financial Inc boosted its position in shares of Baker Hughes by 16.3% in the 4th quarter. Key Financial Inc now owns 2,676 shares of the company’s stock worth $110,000 after purchasing an additional 376 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $45.62 on Monday. Baker Hughes has a one year low of $28.88 and a one year high of $49.40. The business has a fifty day moving average of $44.28 and a 200 day moving average of $40.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The firm has a market capitalization of $45.17 billion, a P/E ratio of 15.31, a PEG ratio of 2.06 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, sell-side 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 issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.02%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 30.87%.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm’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 sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Piper Sandler raised their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Benchmark restated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Barclays upped their price target on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, TD Cowen decreased their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Two research 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, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

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.