Baker Hughes (NASDAQ:BKR) Shares Purchased by M&T Bank Corp

M&T Bank Corp raised its holdings in shares of Baker Hughes (NASDAQ:BKR) by 8.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 52,059 shares of the company’s stock after buying an additional 3,984 shares during the period. M&T Bank Corp’s holdings in Baker Hughes were worth $2,135,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in Baker Hughes during the 4th quarter valued at approximately $640,000. Burney Co. grew its position in shares of Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after acquiring an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC acquired a new position in shares of Baker Hughes in the 4th quarter worth approximately $1,180,000. Artemis Investment Management LLP grew its position in shares of Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after acquiring an additional 239,773 shares in the last quarter. Finally, Czech National Bank grew its position in shares of Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock worth $8,801,000 after acquiring an additional 12,178 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Up 2.4 %

Shares of Baker Hughes stock opened at $42.89 on Monday. The business’s fifty day moving average price is $44.82 and its two-hundred day moving average price is $40.85. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The company has a market capitalization of $42.47 billion, a P/E ratio of 14.39, a PEG ratio of 2.00 and a beta of 1.30. Baker Hughes has a 1-year low of $30.52 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, research analysts forecast 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. Stockholders of record on Tuesday, February 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 30.87%.

Wall Street Analysts Forecast Growth

BKR has been the subject of several research reports. Evercore ISI lifted their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Wells Fargo & Company lifted their target price on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Susquehanna raised their price target on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group raised their price target on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. 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.com, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $51.06.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s 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 of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

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.