Palouse Capital Management Inc. Sells 1,082 Shares of Baker Hughes Company $BKR

Palouse Capital Management Inc. trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR) by 1.1% during the second quarter, HoldingsChannel reports. The firm owned 100,246 shares of the company’s stock after selling 1,082 shares during the quarter. Baker Hughes comprises 2.5% of Palouse Capital Management Inc.’s portfolio, making the stock its 9th largest holding. Palouse Capital Management Inc.’s holdings in Baker Hughes were worth $3,843,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its holdings in shares of Baker Hughes by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company’s stock worth $27,314,000 after acquiring an additional 17,035 shares in the last quarter. Cerity Partners LLC raised its holdings in 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 buying an additional 27,929 shares during the period. Ballentine Partners LLC lifted its stake in 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 buying an additional 1,002 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Baker Hughes by 32.3% in the first quarter. New York State Common Retirement Fund now owns 895,987 shares of the company’s stock valued at $39,379,000 after buying an additional 218,937 shares during the period. Finally, Stephens Investment Management Group LLC increased its position in shares of Baker Hughes by 6.4% during the first quarter. Stephens Investment Management Group LLC now owns 425,535 shares of the company’s stock worth $18,702,000 after acquiring an additional 25,778 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 1.9%

Shares of BKR stock opened at $48.80 on Tuesday. The stock’s fifty day moving average price is $47.30 and its two-hundred day moving average price is $42.55. The company has a market cap of $48.15 billion, a PE ratio of 16.83, a P/E/G ratio of 2.06 and a beta of 1.03. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. 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 released its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. The firm had revenue of $5.09 billion during the quarter. Equities analysts predict 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 will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes’s payout ratio is presently 31.72%.

Insider Activity at Baker Hughes

In other news, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction 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 completion of the transaction, the executive vice president directly owned 40,520 shares in the company, valued at approximately $2,026,000. The trade was a 38.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The shares were 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 approximately $588,600. The trade was a 7.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Industrial Alliance Securities set a $53.00 price objective on shares of Baker Hughes in a research report on Wednesday, July 30th. Barclays boosted their price target on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Evercore ISI set a $54.00 price objective on Baker Hughes in a report on Monday, October 27th. Susquehanna boosted their target price on Baker Hughes from $52.00 to $56.00 and gave the company a “positive” rating in a research note on Thursday, October 2nd. Finally, Bank of America boosted their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Twenty-three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $53.29.

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.