Savant Capital LLC Decreases Stock Position in Baker Hughes Company $BKR

Savant Capital LLC decreased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 39.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,558 shares of the company’s stock after selling 56,590 shares during the period. Savant Capital LLC’s holdings in Baker Hughes were worth $3,357,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BKR. Envestnet Asset Management Inc. boosted its stake in Baker Hughes by 2.8% during the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company’s stock valued at $27,314,000 after buying an additional 17,035 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Baker Hughes by 18.0% during the 1st quarter. Cerity Partners LLC now owns 183,509 shares of the company’s stock worth $8,065,000 after acquiring an additional 27,929 shares in the last quarter. Xponance Inc. raised its holdings in shares of Baker Hughes by 3.9% during the 1st quarter. Xponance Inc. now owns 149,001 shares of the company’s stock worth $6,549,000 after acquiring an additional 5,580 shares in the last quarter. Fortem Financial Group LLC bought a new position in shares of Baker Hughes during the 1st quarter valued at approximately $251,000. Finally, Ballentine Partners LLC grew its holdings in shares of Baker Hughes by 4.5% in the first quarter. Ballentine Partners LLC now owns 23,352 shares of the company’s stock valued at $1,026,000 after purchasing an additional 1,002 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on BKR shares. JPMorgan Chase & Co. increased their price objective 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. Morgan Stanley increased their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. UBS Group lifted their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Capital One Financial upped their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Finally, Bank of America raised their price objective on Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.29.

Baker Hughes Stock Performance

BKR stock opened at $47.87 on Monday. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $50.92. The firm has a market cap of $47.24 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.06 and a beta of 1.03. The business’s fifty day simple moving average is $47.23 and its two-hundred day simple moving average is $42.47. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The firm had revenue of $5.09 billion for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. Analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is 31.72%.

Insider Activity at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief accounting officer owned 11,772 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’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 $1,250,000.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. 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.