Baker Hughes Company $BKR Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. lowered its holdings in Baker Hughes Company (NASDAQ:BKR) by 37.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,906 shares of the company’s stock after selling 3,533 shares during the quarter. Bridges Investment Management Inc.’s holdings in Baker Hughes were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Nuveen LLC acquired a new stake in Baker Hughes during the first quarter worth approximately $404,385,000. Pacer Advisors Inc. grew its position in shares of Baker Hughes by 2,585.6% in the 1st quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company’s stock valued at $169,511,000 after buying an additional 3,713,301 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in Baker Hughes during the 1st quarter worth $70,685,000. Strs Ohio purchased a new stake in Baker Hughes in the first quarter valued at $60,490,000. Finally, AQR Capital Management LLC boosted its stake in Baker Hughes by 27.8% in the first quarter. AQR Capital Management LLC now owns 5,457,164 shares of the company’s stock valued at $234,958,000 after acquiring an additional 1,185,456 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This represents a 38.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the sale, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at $588,600. This represents a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 553,068 shares of company stock worth $24,712,651 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Baker Hughes Trading Up 1.2%

NASDAQ:BKR opened at $45.18 on Friday. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92. 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 stock’s 50 day simple moving average is $46.08 and its 200-day simple moving average is $41.38. The firm has a market cap of $44.54 billion, a P/E ratio of 14.76, a PEG ratio of 1.93 and a beta of 0.99.

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

Baker Hughes Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently commented on BKR. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research report on Wednesday, October 8th. Susquehanna lifted their price target on Baker Hughes from $52.00 to $56.00 and gave the stock a “positive” rating in a research report on Thursday, October 2nd. Barclays reiterated an “overweight” rating on shares of Baker Hughes in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Finally, Morgan Stanley upped their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Twenty-two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $52.91.

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.