Catalyst Funds Management Pty Ltd Raises Stock Holdings in Baker Hughes (NASDAQ:BKR)

Catalyst Funds Management Pty Ltd increased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 37.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,800 shares of the company’s stock after acquiring an additional 2,400 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Baker Hughes were worth $361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BKR. Poinciana Advisors Group LLC bought a new stake in shares of Baker Hughes during the 4th quarter worth $295,000. Alpine Woods Capital Investors LLC raised its position in Baker Hughes by 0.7% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock worth $1,660,000 after acquiring an additional 267 shares during the period. Commonwealth Equity Services LLC boosted its stake in Baker Hughes by 516.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 184,535 shares of the company’s stock valued at $7,570,000 after acquiring an additional 154,618 shares during the last quarter. Balboa Wealth Partners bought a new position in shares of Baker Hughes during the 4th quarter valued at approximately $314,000. Finally, Erste Asset Management GmbH increased its stake in shares of Baker Hughes by 3.4% during the 4th quarter. Erste Asset Management GmbH now owns 28,700 shares of the company’s stock worth $1,171,000 after purchasing an additional 950 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

BKR stock opened at $42.84 on Friday. The firm has a 50 day simple moving average of $44.88 and a two-hundred day simple moving average of $41.05. The stock has a market cap of $42.42 billion, a PE ratio of 14.38, a P/E/G ratio of 2.00 and a beta of 1.30. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. 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 announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. On average, analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.15%. Baker Hughes’s dividend payout ratio is 30.87%.

Analysts Set New Price Targets

BKR has been the subject of several research reports. Wells Fargo & Company increased their price objective on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Stifel Nicolaus increased their price target on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Piper Sandler boosted their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. TD Cowen cut their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction on Monday, January 27th. The shares were 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 approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

Baker Hughes 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.