Blair William & Co. IL Cuts Stake in Baker Hughes Company $BKR

Blair William & Co. IL trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR) by 15.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,087 shares of the company’s stock after selling 1,642 shares during the period. Blair William & Co. IL’s holdings in Baker Hughes were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Baker Hughes by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company’s stock valued at $5,367,096,000 after acquiring an additional 924,501 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Baker Hughes by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company’s stock worth $515,367,000 after purchasing an additional 175,495 shares during the period. Invesco Ltd. lifted its stake in shares of Baker Hughes by 2.7% in the 1st quarter. Invesco Ltd. now owns 10,790,132 shares of the company’s stock worth $474,226,000 after purchasing an additional 283,454 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Baker Hughes by 3.9% in the 1st quarter. Alliancebernstein L.P. now owns 10,068,044 shares of the company’s stock worth $442,491,000 after purchasing an additional 376,654 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Baker Hughes by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,262,413 shares of the company’s stock worth $407,083,000 after acquiring an additional 707,471 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 1.2%

NASDAQ:BKR opened at $45.18 on Friday. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $50.92. The company has a market cap of $44.54 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99. The stock has a fifty day simple moving average of $46.08 and a 200-day simple moving average of $41.38. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33.

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

Baker Hughes Dividend Announcement

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

Analysts Set New Price Targets

BKR has been the topic of a number of recent analyst reports. Barclays restated an “overweight” rating on shares of Baker Hughes in a research note on Tuesday. The Goldman Sachs Group decreased their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, July 2nd. Industrial Alliance Securities set a $53.00 target price on shares of Baker Hughes in a research note on Wednesday, July 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $53.00 price objective (up from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Finally, Stifel Nicolaus cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.91.

Insider Activity at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction dated Tuesday, September 23rd. The stock was 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 in the company, valued at $588,600. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction dated 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 completion of the sale, the chief executive officer owned 667,593 shares of the company’s stock, valued at $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,068 shares of company stock worth $24,712,651 over the last three months. 0.27% of the stock is owned by corporate insiders.

Baker Hughes 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.