Summit Investment Advisors Inc. Has $1.69 Million Stock Holdings in Baker Hughes (NASDAQ:BKR)

Summit Investment Advisors Inc. boosted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,125 shares of the company’s stock after buying an additional 1,170 shares during the period. Summit Investment Advisors Inc.’s holdings in Baker Hughes were worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Dynasty Wealth Management LLC increased 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 valued at $324,000 after purchasing an additional 207 shares during the period. Larson Financial Group LLC increased its stake in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after buying an additional 216 shares during the period. Alpine Woods Capital Investors LLC lifted its position in Baker Hughes by 0.7% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock worth $1,660,000 after buying an additional 267 shares in the last quarter. Cromwell Holdings LLC boosted its stake in shares of Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock valued at $130,000 after buying an additional 269 shares during the period. Finally, 180 Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 1.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after acquiring an additional 295 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BKR. Benchmark reiterated a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Evercore ISI lifted their price target on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. boosted their price target on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler raised their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Bank of America boosted their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.65.

Baker Hughes Stock Up 0.9 %

NASDAQ BKR opened at $38.16 on Wednesday. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a market cap of $37.78 billion, a PE ratio of 12.81, a PEG ratio of 2.00 and a beta of 1.08. The firm has a 50-day simple moving average of $42.83 and a 200 day simple moving average of $42.06.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, research analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm 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 is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.41%. Baker Hughes’s dividend payout ratio is currently 30.87%.

Insider Buying and Selling

In other Baker Hughes 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 transaction of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.