J. Safra Sarasin Holding AG Has $52.92 Million Stake in Baker Hughes (NASDAQ:BKR)

J. Safra Sarasin Holding AG boosted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 1,170.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,290,044 shares of the company’s stock after acquiring an additional 1,188,529 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Baker Hughes were worth $52,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Strategic Financial Concepts LLC bought a new stake in Baker Hughes in the fourth quarter valued at about $640,000. Burney Co. grew its stake in shares of Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after purchasing an additional 105,349 shares during the period. Geode Capital Management LLC raised its holdings in shares of Baker Hughes by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock worth $1,004,212,000 after buying an additional 465,832 shares in the last quarter. Northstar Advisory Group LLC acquired a new stake in Baker Hughes in the 4th quarter valued at $1,180,000. Finally, Artemis Investment Management LLP grew its position in Baker Hughes by 29.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after acquiring an additional 239,773 shares during the period. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

BKR has been the topic of several recent analyst reports. Benchmark restated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Evercore ISI boosted their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Piper Sandler raised their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company boosted their target price on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Susquehanna dropped their price target on Baker Hughes from $55.00 to $48.00 and set a “positive” rating for the company in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.65.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Baker Hughes Stock Performance

BKR stock opened at $38.86 on Monday. 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 has a twelve month low of $30.93 and a twelve month high of $49.40. The business’s fifty day moving average is $42.34 and its 200-day moving average is $42.13. The company has a market cap of $38.47 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR) last released 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 net margin of 10.70% and a return on equity of 14.58%. Equities research analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.37%. Baker Hughes’s payout ratio is currently 30.87%.

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.