Engineers Gate Manager LP Acquires 440,861 Shares of Baker Hughes Company $BKR

Engineers Gate Manager LP boosted its holdings in Baker Hughes Company (NASDAQ:BKR) by 1,314.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 474,400 shares of the company’s stock after buying an additional 440,861 shares during the period. Engineers Gate Manager LP’s holdings in Baker Hughes were worth $18,188,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Baker Hughes in the second quarter worth $36,000. Harbour Investments Inc. boosted its holdings in Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after purchasing an additional 326 shares during the period. LFA Lugano Financial Advisors SA acquired a new stake in Baker Hughes in the 2nd quarter worth $36,000. LRI Investments LLC increased its holdings in shares of Baker Hughes by 59.3% during the 2nd quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the period. Finally, Hilltop National Bank acquired a new position in shares of Baker Hughes during the second quarter valued at about $43,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $46.86 on Friday. 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 business’s fifty day moving average price is $47.89 and its two-hundred day moving average price is $44.46. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $51.12. The stock has a market capitalization of $46.24 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

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

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were given a $0.23 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. Baker Hughes’s payout ratio is 31.72%.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of recent research reports. Evercore ISI set a $54.00 target price on Baker Hughes in a research report on Monday, October 27th. Susquehanna lifted their price objective on Baker Hughes from $52.00 to $56.00 and gave the stock a “positive” rating in a report on Thursday, October 2nd. TD Cowen boosted their price objective on Baker Hughes from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, October 27th. HSBC raised their target price on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, Stifel Nicolaus boosted their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, October 27th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $53.92.

Insider Activity

In other 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 value of $1,250,000.00. Following the transaction, the executive vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction 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 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 is available in the SEC filing. 0.27% of the stock is currently owned by corporate insiders.

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.