Baker Hughes Company $BKR Stock Position Cut by 180 Wealth Advisors LLC

180 Wealth Advisors LLC cut its position in shares of Baker Hughes Company (NASDAQ:BKR) by 3.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,913 shares of the company’s stock after selling 826 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Baker Hughes were worth $840,000 at the end of the most recent quarter.

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

Baker Hughes Trading Down 3.3%

NASDAQ BKR opened at $47.30 on Friday. The stock has a market capitalization of $46.63 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 2.11 and a beta of 0.99. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $50.92. The stock’s 50 day moving average price is $46.53 and its two-hundred day moving average price is $41.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results 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 return on equity of 14.41% and a net margin of 10.43%. As a group, analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes’s payout ratio is 31.72%.

Analyst Upgrades and Downgrades

BKR has been the topic of several analyst reports. Melius Research assumed coverage on Baker Hughes in a report on Wednesday, August 20th. They set a “buy” rating and a $60.00 price target on the stock. Barclays restated an “overweight” rating on shares of Baker Hughes in a research note on Tuesday, October 14th. UBS Group lifted their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Citigroup lifted their price objective on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $53.00 price objective (up from $46.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Twenty-one equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.91.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s 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 transaction, the executive vice president owned 40,520 shares of the company’s stock, valued at $2,026,000. The trade was a 38.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, 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 disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

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.