Hillsdale Investment Management Inc. Makes New $491,000 Investment in Baker Hughes (NASDAQ:BKR)

Hillsdale Investment Management Inc. purchased a new position in Baker Hughes (NASDAQ:BKR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,360 shares of the company’s stock, valued at approximately $491,000.

Several other hedge funds have also recently made changes to their positions in BKR. Blue Trust Inc. raised its position in shares of Baker Hughes by 15.5% in the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after acquiring an additional 327 shares in the last quarter. Rational Advisors LLC increased its position in Baker Hughes by 44.0% during the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after buying an additional 382 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Baker Hughes by 6.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock worth $219,000 after acquiring an additional 398 shares during the last quarter. Huntington National Bank lifted its position in Baker Hughes by 8.2% in the 3rd quarter. Huntington National Bank now owns 5,501 shares of the company’s stock valued at $194,000 after acquiring an additional 416 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Baker Hughes by 2.8% during the third quarter. Blair William & Co. IL now owns 15,086 shares of the company’s stock valued at $533,000 after buying an additional 416 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

BKR has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a report on Thursday, February 1st. TD Cowen increased their price objective 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. UBS Group increased their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Morgan Stanley upped their price objective on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Finally, Citigroup dropped their target price on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.94.

Baker Hughes Stock Down 0.3 %

BKR opened at $33.02 on Wednesday. The stock has a market cap of $32.95 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 0.57 and a beta of 1.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25. The firm’s fifty day moving average is $32.92 and its 200 day moving average is $32.22. Baker Hughes has a fifty-two week low of $26.96 and a fifty-two week high of $37.58.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the company earned $0.28 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts forecast that Baker Hughes will post 2.08 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

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.