Los Angeles Capital Management LLC Cuts Stock Position in Baker Hughes (NASDAQ:BKR)

Los Angeles Capital Management LLC cut its holdings in shares of Baker Hughes (NASDAQ:BKR) by 0.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,121,146 shares of the company’s stock after selling 415 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Baker Hughes were worth $37,558,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Bruce G. Allen Investments LLC bought a new stake in Baker Hughes during the 4th quarter valued at approximately $33,000. Montag A & Associates Inc. grew its stake in Baker Hughes by 100.0% during the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares in the last quarter. Clearstead Advisors LLC increased its holdings in Baker Hughes by 38.2% in the 3rd quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock valued at $54,000 after acquiring an additional 421 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake in Baker Hughes by 7,226.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 2,198 shares of the company’s stock worth $78,000 after purchasing an additional 2,168 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Baker Hughes by 15.5% during the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock valued at $85,000 after purchasing an additional 327 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 0.3 %

NASDAQ BKR opened at $32.14 on Thursday. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $37.58. The company’s 50-day moving average price is $32.40 and its 200-day moving average price is $31.96. The stock has a market cap of $32.08 billion, a PE ratio of 17.96, a PEG ratio of 0.55 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the firm earned $0.28 EPS. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Baker Hughes will post 2.09 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.61%. Baker Hughes’s payout ratio is currently 46.93%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BKR. Morgan Stanley lifted their target price on Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Susquehanna reaffirmed a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. UBS Group increased their target price on Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group lifted their price target on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $41.13.

Insider Buying and Selling at Baker Hughes

In other news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the sale, the executive vice president now owns 92,035 shares in the company, valued at $2,945,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate 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.