Baker Hughes (NASDAQ:BKR) Shares Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Baker Hughes (NASDAQ:BKR) by 38.6% during the fourth quarter, Holdings Channel reports. The firm owned 74,409 shares of the company’s stock after acquiring an additional 20,724 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Baker Hughes were worth $3,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC grew its holdings in shares of Baker Hughes by 446,900.0% in the third quarter. Quest Partners LLC now owns 4,470 shares of the company’s stock valued at $162,000 after purchasing an additional 4,469 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Baker Hughes by 90.4% in the third quarter. Cerity Partners LLC now owns 132,652 shares of the company’s stock valued at $4,795,000 after acquiring an additional 62,980 shares in the last quarter. Pitcairn Co. boosted its holdings in Baker Hughes by 30.2% in the third quarter. Pitcairn Co. now owns 12,083 shares of the company’s stock valued at $437,000 after purchasing an additional 2,805 shares during the period. Swedbank AB grew its stake in Baker Hughes by 24.2% during the 3rd quarter. Swedbank AB now owns 656,571 shares of the company’s stock worth $23,735,000 after purchasing an additional 128,031 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Baker Hughes by 11.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 185,227 shares of the company’s stock valued at $6,696,000 after purchasing an additional 19,278 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

Baker Hughes Stock Performance

Shares of BKR opened at $45.18 on Wednesday. The company’s 50 day simple moving average is $44.97 and its 200-day simple moving average is $41.58. The firm has a market cap of $44.73 billion, a PE ratio of 15.16, 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 data 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%. As a group, equities analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.04%. Baker Hughes’s dividend payout ratio is currently 30.87%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays upped their target price 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 lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Piper Sandler boosted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Bank of America raised their price target on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Benchmark reaffirmed a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a research report on Tuesday, February 11th. Two 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, Baker Hughes currently 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.