Janney Montgomery Scott LLC Raises Position in Baker Hughes (NASDAQ:BKR)

Janney Montgomery Scott LLC lifted its stake in shares of Baker Hughes (NASDAQ:BKR) by 128.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,094 shares of the company’s stock after buying an additional 10,174 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Baker Hughes were worth $742,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Czech National Bank raised its position in shares of Baker Hughes by 6.4% in the 3rd quarter. Czech National Bank now owns 202,371 shares of the company’s stock valued at $7,316,000 after purchasing an additional 12,192 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Baker Hughes by 42.9% in the 3rd quarter. GAMMA Investing LLC now owns 7,288 shares of the company’s stock valued at $263,000 after acquiring an additional 2,187 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in shares of Baker Hughes during the 3rd quarter valued at approximately $279,000. CWM LLC lifted its stake in Baker Hughes by 56.4% during the third quarter. CWM LLC now owns 48,422 shares of the company’s stock worth $1,750,000 after purchasing an additional 17,467 shares during the last quarter. Finally, Wedmont Private Capital boosted its holdings in Baker Hughes by 7.5% in the third quarter. Wedmont Private Capital now owns 18,136 shares of the company’s stock worth $688,000 after purchasing an additional 1,266 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of recent research reports. Bank of America raised their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler increased their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group boosted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. 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, the company currently has an average rating of “Moderate Buy” and an average target price of $50.18.

Baker Hughes Stock Down 1.7 %

Shares of Baker Hughes stock opened at $46.20 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 12-month low of $28.63 and a 12-month high of $49.40. The firm has a market capitalization of $45.72 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The stock’s fifty day moving average is $43.37 and its 200-day moving average is $39.40.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 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%. Equities analysts anticipate that Baker Hughes will post 2.55 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be issued a $0.23 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.99%. Baker Hughes’s dividend payout ratio is currently 28.19%.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was 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 $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate 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.