Baker Hughes (NASDAQ:BKR) Shares Acquired by Lmcg Investments LLC

Lmcg Investments LLC boosted its position in Baker Hughes (NASDAQ:BKR) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 130,839 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Lmcg Investments LLC’s holdings in Baker Hughes were worth $4,602,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. Twin Tree Management LP grew its position in shares of Baker Hughes by 183.0% in the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after purchasing an additional 219,060 shares during the period. Cibc World Markets Corp grew its holdings in Baker Hughes by 59.4% in the 4th quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock valued at $9,367,000 after buying an additional 102,174 shares during the period. Caxton Associates LP acquired a new position in shares of Baker Hughes during the 4th quarter valued at about $13,672,000. KBC Group NV lifted its holdings in shares of Baker Hughes by 207.1% during the 4th quarter. KBC Group NV now owns 237,356 shares of the company’s stock worth $8,113,000 after acquiring an additional 160,056 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of Baker Hughes by 255.9% in the fourth quarter. Corient Private Wealth LLC now owns 332,623 shares of the company’s stock worth $11,369,000 after acquiring an additional 239,160 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

BKR has been the subject of several research analyst reports. Bank of America dropped their price target on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 15th. JPMorgan Chase & Co. lifted their target price on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Susquehanna upped their price target on Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. TD Cowen lifted their price objective on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Morgan Stanley dropped their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.31.

Baker Hughes Stock Performance

Shares of BKR stock opened at $33.98 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The company’s fifty day moving average price is $35.08 and its two-hundred day moving average price is $33.55. The firm has a market capitalization of $33.76 billion, a P/E ratio of 18.98, a P/E/G ratio of 0.54 and a beta of 1.38. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. Baker Hughes’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts anticipate that Baker Hughes will post 2.24 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.47%. Baker Hughes’s dividend payout ratio 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.