Reinhart Partners LLC. Sells 24,251 Shares of Baker Hughes (NASDAQ:BKR)

Reinhart Partners LLC. lowered its position in shares of Baker Hughes (NASDAQ:BKR) by 7.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,370 shares of the company’s stock after selling 24,251 shares during the period. Reinhart Partners LLC.’s holdings in Baker Hughes were worth $10,895,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. grew its holdings in shares of Baker Hughes by 18.4% during the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after purchasing an additional 291 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its position in shares of Baker Hughes by 6.9% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock valued at $253,000 after buying an additional 467 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Baker Hughes by 5.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock worth $350,000 after acquiring an additional 520 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Baker Hughes by 0.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 107,946 shares of the company’s stock worth $3,690,000 after acquiring an additional 525 shares in the last quarter. Finally, Rise Advisors LLC increased its stake in Baker Hughes by 46.9% in the first quarter. Rise Advisors LLC now owns 1,667 shares of the company’s stock valued at $56,000 after acquiring an additional 532 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BKR. JPMorgan Chase & Co. upped their price objective on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Evercore ISI lifted their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Morgan Stanley upped their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.65.

Baker Hughes Price Performance

BKR opened at $37.70 on Friday. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The company has a market cap of $37.45 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $35.30 and a two-hundred day simple moving average of $34.17.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. Baker Hughes’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. Research analysts predict that Baker Hughes will post 2.25 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 paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 annualized dividend and a dividend yield of 2.23%. Baker Hughes’s payout ratio is currently 42.64%.

Insider Activity at Baker Hughes

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