Baker Hughes Company (NASDAQ:BKR) Stock Holdings Increased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. raised its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 93.5% during the 1st quarter, Holdings Channel reports. The fund owned 27,892 shares of the company’s stock after purchasing an additional 13,481 shares during the period. E Fund Management Co. Ltd.’s holdings in Baker Hughes were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in BKR. Bessemer Group Inc. raised its stake in Baker Hughes by 6.8% during the 4th quarter. Bessemer Group Inc. now owns 13,994 shares of the company’s stock valued at $573,000 after acquiring an additional 891 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Baker Hughes by 20.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 37,591 shares of the company’s stock valued at $1,538,000 after acquiring an additional 6,375 shares in the last quarter. Townsquare Capital LLC raised its stake in Baker Hughes by 8.3% during the 4th quarter. Townsquare Capital LLC now owns 23,345 shares of the company’s stock valued at $958,000 after acquiring an additional 1,794 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Baker Hughes by 2.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 41,125 shares of the company’s stock worth $1,687,000 after buying an additional 1,170 shares in the last quarter. Finally, Mariner LLC raised its stake in shares of Baker Hughes by 2.1% in the 4th quarter. Mariner LLC now owns 830,588 shares of the company’s stock worth $34,069,000 after buying an additional 17,133 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Susquehanna boosted their target price on Baker Hughes from $46.00 to $52.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Evercore ISI boosted their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Jefferies Financial Group set a $58.00 target price on Baker Hughes in a research report on Wednesday, July 30th. Industrial Alliance Securities set a $53.00 target price on Baker Hughes in a research report on Wednesday, July 30th. Finally, TD Securities cut their target price on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.47.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the sale, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $42.85 on Thursday. The business’s 50-day moving average price is $40.68 and its two-hundred day moving average price is $40.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The company has a market capitalization of $42.24 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.94 and a beta of 0.94.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 5th. Baker Hughes’s dividend payout ratio is 30.07%.

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.