Aspire Private Capital LLC Increases Stock Holdings in Baker Hughes (NASDAQ:BKR)

Aspire Private Capital LLC lifted its position in Baker Hughes (NASDAQ:BKR) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,733 shares of the company’s stock after buying an additional 486 shares during the quarter. Aspire Private Capital LLC’s holdings in Baker Hughes were worth $196,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKR. Bruce G. Allen Investments LLC bought a new position in shares of Baker Hughes in the fourth quarter worth approximately $33,000. OFI Invest Asset Management bought a new position in shares of Baker Hughes in the third quarter worth approximately $36,000. Rational Advisors LLC increased its position in shares of Baker Hughes by 44.0% in the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after purchasing an additional 382 shares during the last quarter. Clearstead Advisors LLC increased its position in shares of Baker Hughes by 38.2% in the third quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock worth $54,000 after purchasing an additional 421 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Baker Hughes in the third quarter worth approximately $76,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 1.0 %

Shares of Baker Hughes stock traded up $0.33 on Tuesday, hitting $32.79. The stock had a trading volume of 1,589,052 shares, compared to its average volume of 8,660,090. The stock’s 50-day simple moving average is $31.74 and its two-hundred day simple moving average is $32.56. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The stock has a market cap of $32.82 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.62 and a beta of 1.42. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. As a group, sell-side analysts predict that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were paid a $0.21 dividend. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, February 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.56%. Baker Hughes’s dividend payout ratio (DPR) is presently 43.98%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Susquehanna reiterated a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Citigroup reduced their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Finally, TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.07.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

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.