Sumitomo Mitsui DS Asset Management Company Ltd Has $3.74 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Baker Hughes (NASDAQ:BKR) by 13.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,463 shares of the company’s stock after acquiring an additional 12,389 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Baker Hughes were worth $3,744,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BKR. Price T Rowe Associates Inc. MD increased its stake in Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after buying an additional 4,207,973 shares during the period. Norges Bank purchased a new stake in shares of Baker Hughes during the fourth quarter worth $551,555,000. Dimensional Fund Advisors LP raised its holdings in shares of Baker Hughes by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock worth $296,319,000 after acquiring an additional 1,395,083 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Baker Hughes by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock valued at $227,579,000 after purchasing an additional 204,839 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in Baker Hughes by 10.2% in the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after purchasing an additional 612,715 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.3 %

Shares of Baker Hughes stock opened at $35.17 on Friday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The company’s fifty day simple moving average is $35.25 and its 200-day simple moving average is $33.16. The company has a market cap of $35.10 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 0.61 and a beta of 1.41. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

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

Baker Hughes Announces Dividend

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

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. TD Cowen raised their price target on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Bank of America reduced their target price on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada increased their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. UBS Group raised their price target on shares of Baker Hughes from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $43.38.

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.