Boston Trust Walden Corp Reduces Position in Baker Hughes Company $BKR

Boston Trust Walden Corp lessened its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 24.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 311,625 shares of the company’s stock after selling 103,060 shares during the quarter. Boston Trust Walden Corp’s holdings in Baker Hughes were worth $11,948,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Alpine Woods Capital Investors LLC boosted its holdings in shares of Baker Hughes by 4.0% in the second quarter. Alpine Woods Capital Investors LLC now owns 44,593 shares of the company’s stock valued at $1,710,000 after purchasing an additional 1,716 shares during the period. Heartland Bank & Trust Co purchased a new stake in shares of Baker Hughes in the second quarter valued at approximately $334,000. NorthRock Partners LLC boosted its holdings in shares of Baker Hughes by 54.2% in the second quarter. NorthRock Partners LLC now owns 13,584 shares of the company’s stock valued at $521,000 after purchasing an additional 4,774 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Baker Hughes by 266.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 127,646 shares of the company’s stock valued at $4,894,000 after purchasing an additional 92,768 shares during the period. Finally, Vest Financial LLC boosted its holdings in shares of Baker Hughes by 66.6% in the second quarter. Vest Financial LLC now owns 742,494 shares of the company’s stock valued at $28,467,000 after purchasing an additional 296,796 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on BKR shares. Jefferies Financial Group set a $58.00 price target on Baker Hughes in a report on Wednesday, July 30th. Melius Research began coverage on Baker Hughes in a report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price target for the company. Susquehanna boosted their price objective on shares of Baker Hughes from $52.00 to $56.00 and gave the stock a “positive” rating in a research note on Thursday, October 2nd. Royal Bank Of Canada boosted their price objective on shares of Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Seaport Res Ptn downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 29th. Twenty-two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.57.

Baker Hughes Stock Performance

Shares of BKR opened at $44.83 on Wednesday. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $50.92. The stock has a fifty day moving average price of $45.99 and a 200-day moving average price of $41.35. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The firm has a market cap of $44.20 billion, a PE ratio of 14.65, a P/E/G ratio of 2.07 and a beta of 0.99.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The firm had revenue of $5.09 billion during the quarter. Equities research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued 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 was Tuesday, August 5th. Baker Hughes’s dividend payout ratio is currently 30.07%.

Insider Activity

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

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.