Principal Financial Group Inc. Has $39.75 Million Stock Holdings in Baker Hughes (NASDAQ:BKR)

Principal Financial Group Inc. trimmed its position in Baker Hughes (NASDAQ:BKR) by 2.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,130,150 shares of the company’s stock after selling 31,826 shares during the period. Principal Financial Group Inc.’s holdings in Baker Hughes were worth $39,747,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Atria Wealth Solutions Inc. lifted its holdings in shares of Baker Hughes by 6.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 19,298 shares of the company’s stock worth $660,000 after purchasing an additional 1,130 shares during the period. Victory Capital Management Inc. grew its position in shares of Baker Hughes by 10.6% in the 4th quarter. Victory Capital Management Inc. now owns 1,034,695 shares of the company’s stock valued at $35,366,000 after buying an additional 99,105 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Baker Hughes by 21.9% in the fourth quarter. First Trust Direct Indexing L.P. now owns 24,819 shares of the company’s stock valued at $848,000 after buying an additional 4,464 shares during the period. Fisher Asset Management LLC raised its position in shares of Baker Hughes by 3.2% during the fourth quarter. Fisher Asset Management LLC now owns 507,379 shares of the company’s stock worth $17,342,000 after acquiring an additional 15,904 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in Baker Hughes by 2.5% during the 4th quarter. M&T Bank Corp now owns 52,125 shares of the company’s stock worth $1,781,000 after purchasing an additional 1,260 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Trading Down 0.3 %

NASDAQ:BKR opened at $35.17 on Friday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The firm has a 50-day moving average price of $35.25 and a two-hundred day moving average price of $33.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The firm has a market cap of $35.10 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 0.61 and a beta of 1.41.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. Baker Hughes’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. On average, equities analysts expect that Baker Hughes will post 2.2 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.39%. Baker Hughes’s payout ratio is currently 46.93%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Stifel Nicolaus raised their price objective on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Friday, July 26th. UBS Group increased their target price on Baker Hughes from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.38.

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.