LPL Financial LLC Purchases 105,878 Shares of Baker Hughes (NASDAQ:BKR)

LPL Financial LLC increased its position in shares of Baker Hughes (NASDAQ:BKR) by 57.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 289,414 shares of the company’s stock after buying an additional 105,878 shares during the quarter. LPL Financial LLC’s holdings in Baker Hughes were worth $11,872,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dynasty Wealth Management LLC lifted its holdings in shares of Baker Hughes by 2.7% in the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after purchasing an additional 207 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after buying an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC grew its holdings in shares of Baker Hughes by 0.7% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after buying an additional 267 shares during the last quarter. Cromwell Holdings LLC increased its position in shares of Baker Hughes by 9.3% during the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after acquiring an additional 269 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 1.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after acquiring an additional 295 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays lowered their price objective on Baker Hughes from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Monday. Stifel Nicolaus raised their price objective on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Benchmark reiterated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Royal Bank of Canada raised their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Baker Hughes Stock Performance

NASDAQ BKR opened at $44.92 on Thursday. The firm has a market cap of $44.48 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $44.69 and its 200-day moving average is $41.97. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (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%. Sell-side analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.05%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is currently 30.87%.

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.