Bank Julius Baer & Co. Ltd Zurich Decreases Position in Baker Hughes (NASDAQ:BKR)

Bank Julius Baer & Co. Ltd Zurich lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 21.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,263 shares of the company’s stock after selling 1,969 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Baker Hughes were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BKR. Strategic Financial Concepts LLC bought a new stake in shares of Baker Hughes in the 4th quarter worth about $640,000. Burney Co. grew its stake in shares of Baker Hughes by 315.0% during the fourth quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after buying an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC purchased a new stake in shares of Baker Hughes in the fourth quarter worth approximately $1,180,000. Artemis Investment Management LLP grew its position in Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after acquiring an additional 239,773 shares during the last quarter. Finally, Czech National Bank grew its position in Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after acquiring an additional 12,178 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Performance

BKR stock opened at $41.16 on Tuesday. Baker Hughes has a one year low of $30.52 and a one year high of $49.40. The firm has a market cap of $40.75 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a 50-day simple moving average of $44.82 and a two-hundred day simple moving average of $40.89.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, equities analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a $0.23 dividend. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.24%. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays boosted their target price on shares of Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Evercore ISI boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group upped their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Citigroup lifted their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Bank of America increased their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.