Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 314,300 Shares of Baker Hughes (NASDAQ:BKR)

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,324,103 shares of the company’s stock after purchasing an additional 314,300 shares during the quarter. Baker Hughes accounts for approximately 0.5% of Fjarde AP Fonden Fourth Swedish National Pension Fund’s portfolio, making the stock its 29th largest position. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Baker Hughes were worth $54,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BKR. Creative Planning grew its holdings in shares of Baker Hughes by 12.3% during the third quarter. Creative Planning now owns 69,572 shares of the company’s stock worth $2,515,000 after purchasing an additional 7,596 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Baker Hughes by 156.9% during the third quarter. Sequoia Financial Advisors LLC now owns 19,873 shares of the company’s stock worth $718,000 after purchasing an additional 12,137 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Baker Hughes by 38.9% during the third quarter. Signaturefd LLC now owns 9,569 shares of the company’s stock worth $346,000 after purchasing an additional 2,679 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Baker Hughes by 15.8% during the third quarter. Assenagon Asset Management S.A. now owns 40,838 shares of the company’s stock worth $1,476,000 after purchasing an additional 5,570 shares in the last quarter. Finally, Tectonic Advisors LLC grew its holdings in shares of Baker Hughes by 5.6% during the third quarter. Tectonic Advisors LLC now owns 13,019 shares of the company’s stock worth $471,000 after purchasing an additional 687 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $45.62 on Friday. The stock has a market cap of $45.17 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. The firm’s fifty day simple moving average is $44.28 and its 200 day simple moving average is $40.21. Baker Hughes has a twelve month low of $28.88 and a twelve month high of $49.40. 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 (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating 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, research analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.02%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is currently 30.87%.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of recent research reports. TD Cowen reduced their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Stifel Nicolaus increased their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Bank of America increased their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group increased their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

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.