Chevy Chase Trust Holdings LLC Grows Stock Holdings in Baker Hughes Company $BKR

Chevy Chase Trust Holdings LLC raised its position in Baker Hughes Company (NASDAQ:BKR) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 523,345 shares of the company’s stock after acquiring an additional 4,042 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Baker Hughes worth $20,065,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Mattson Financial Services LLC increased its position in shares of Baker Hughes by 28.1% during the second quarter. Mattson Financial Services LLC now owns 46,975 shares of the company’s stock valued at $1,801,000 after buying an additional 10,298 shares during the period. Nordea Investment Management AB increased its position in shares of Baker Hughes by 16.2% during the second quarter. Nordea Investment Management AB now owns 2,228,911 shares of the company’s stock valued at $85,969,000 after buying an additional 311,437 shares during the period. New York State Teachers Retirement System increased its position in shares of Baker Hughes by 7.0% during the second quarter. New York State Teachers Retirement System now owns 875,693 shares of the company’s stock valued at $33,574,000 after buying an additional 57,269 shares during the period. Mutual Advisors LLC purchased a new position in shares of Baker Hughes during the second quarter valued at about $475,000. Finally, Harbour Investments Inc. increased its position in shares of Baker Hughes by 61.7% during the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after buying an additional 326 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research report on Wednesday, October 8th. Jefferies Financial Group set a $58.00 price target on shares of Baker Hughes in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, September 30th. Seaport Res Ptn cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 29th. Finally, Melius assumed coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They set a “buy” rating and a $60.00 price objective on the stock. Twenty-two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $52.91.

Insider Transactions at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 1,000 shares of the company’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 transaction, the chief accounting officer owned 11,772 shares in the company, valued at approximately $588,600. This represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lorenzo Simonelli sold 526,568 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 553,068 shares of company stock worth $24,712,651. Corporate 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 one year low of $33.60 and a one 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 company’s 50-day simple moving average is $46.08 and its 200 day simple moving average is $41.36. The firm has a market capitalization of $44.54 billion, a P/E ratio of 14.76, a PEG ratio of 1.95 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 EPS for the quarter. The business 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%. As a group, analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid 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 dividend payout ratio is currently 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.