Moors & Cabot Inc. Has $2.23 Million Position in Baker Hughes (NASDAQ:BKR)

Moors & Cabot Inc. grew its stake in Baker Hughes (NASDAQ:BKR) by 2.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 54,322 shares of the company’s stock after buying an additional 1,522 shares during the period. Moors & Cabot Inc.’s holdings in Baker Hughes were worth $2,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BKR. Raymond James Financial Inc. acquired a new stake in shares of Baker Hughes in the fourth quarter valued at about $291,289,000. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after buying an additional 2,811,940 shares during the period. Congress Asset Management Co. acquired a new stake in shares of Baker Hughes in the fourth quarter valued at about $107,155,000. Yaupon Capital Management LP acquired a new stake in shares of Baker Hughes in the third quarter valued at about $47,296,000. Finally, Eagle Asset Management Inc. grew its stake in Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after purchasing an additional 860,219 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $42.48 on Thursday. The business’s fifty day simple moving average is $44.87 and its 200 day simple moving average is $40.95. The firm has a market capitalization of $42.06 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping 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, analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a $0.23 dividend. 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 yield of 2.17%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) 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 on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of 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 filing with the SEC, which is available through this link. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on BKR shares. Royal Bank of Canada raised their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Stifel Nicolaus raised their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Evercore ISI raised their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. raised their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company raised their target price on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

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.