Adams Diversified Equity Fund Inc. Buys New Shares in Baker Hughes (NASDAQ:BKR)

Adams Diversified Equity Fund Inc. bought a new stake in shares of Baker Hughes (NASDAQ:BKR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 229,900 shares of the company’s stock, valued at approximately $8,311,000.

A number of other large investors also recently modified their holdings of the company. UMB Bank n.a. lifted its stake in shares of Baker Hughes by 18.4% during the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after buying an additional 291 shares in the last quarter. Guinness Atkinson Asset Management Inc lifted its stake in Baker Hughes by 6.9% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after purchasing an additional 467 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in Baker Hughes by 8.6% in the 3rd quarter. Lake Street Advisors Group LLC now owns 6,502 shares of the company’s stock worth $235,000 after purchasing an additional 515 shares in the last quarter. Meeder Advisory Services Inc. lifted its stake in Baker Hughes by 5.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock worth $350,000 after purchasing an additional 520 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Baker Hughes by 8.7% in the 2nd quarter. Signaturefd LLC now owns 6,890 shares of the company’s stock worth $242,000 after purchasing an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.8 %

Shares of NASDAQ BKR opened at $37.09 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The business’s 50 day moving average price is $35.80 and its 200-day moving average price is $34.44. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. The company has a market cap of $37.02 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 0.61 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. On average, sell-side analysts expect that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 2.26%. Baker Hughes’s payout ratio is currently 46.93%.

Analyst Upgrades and Downgrades

BKR has been the topic of several research analyst reports. Evercore ISI boosted their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Jefferies Financial Group boosted their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group boosted their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Barclays upped their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.12.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company 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.