Alpine Woods Capital Investors LLC Buys 1,716 Shares of Baker Hughes Company $BKR

Alpine Woods Capital Investors LLC grew its stake in Baker Hughes Company (NASDAQ:BKR) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,593 shares of the company’s stock after purchasing an additional 1,716 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Baker Hughes were worth $1,710,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BKR. Wayfinding Financial LLC bought a new position in shares of Baker Hughes in the first quarter valued at approximately $28,000. Golden State Wealth Management LLC lifted its holdings in Baker Hughes by 678.7% during the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company’s stock worth $30,000 after acquiring an additional 604 shares during the period. N.E.W. Advisory Services LLC bought a new stake in Baker Hughes during the first quarter worth $30,000. Grove Bank & Trust lifted its holdings in Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company’s stock worth $33,000 after acquiring an additional 320 shares during the period. Finally, Spire Wealth Management lifted its holdings in Baker Hughes by 132.9% during the first quarter. Spire Wealth Management now owns 815 shares of the company’s stock worth $36,000 after acquiring an additional 465 shares during the period. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on BKR shares. BMO Capital Markets reiterated an “outperform” rating and set a $53.00 price target (up from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. The Goldman Sachs Group dropped their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, July 2nd. UBS Group lifted their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Susquehanna lifted their price target on Baker Hughes from $52.00 to $56.00 and gave the stock a “positive” rating in a report on Thursday, October 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 30th. Twenty-two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.57.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the transaction, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the transaction, the executive vice president owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 553,068 shares of company stock worth $24,712,651. 0.27% of the stock is owned by corporate insiders.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $45.49 on Tuesday. The company has a market capitalization of $44.85 billion, a P/E ratio of 14.87, a P/E/G ratio of 2.05 and a beta of 0.99. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $50.92. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The business has a fifty day simple moving average of $45.97 and a two-hundred day simple moving average of $41.33.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The company had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. On average, analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a $0.23 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. Baker Hughes’s payout ratio is 30.07%.

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.