Mutual of America Capital Management LLC Sells 6,780 Shares of Baker Hughes (NASDAQ:BKR)

Mutual of America Capital Management LLC decreased its stake in Baker Hughes (NASDAQ:BKR) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 306,264 shares of the company’s stock after selling 6,780 shares during the period. Mutual of America Capital Management LLC’s holdings in Baker Hughes were worth $10,771,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BKR. Spire Wealth Management lifted its stake in Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after purchasing an additional 552 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Baker Hughes during the first quarter valued at $27,000. New Covenant Trust Company N.A. bought a new position in shares of Baker Hughes during the first quarter valued at $34,000. Alta Advisers Ltd bought a new position in shares of Baker Hughes during the second quarter valued at $42,000. Finally, Headlands Technologies LLC bought a new position in shares of Baker Hughes during the second quarter valued at $48,000. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

BKR has been the subject of several analyst reports. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research note on Friday, July 26th. Evercore ISI raised their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Susquehanna raised their price target on shares of Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Morgan Stanley decreased their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Royal Bank of Canada increased their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $43.19.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Trading Down 0.2 %

NASDAQ:BKR opened at $34.67 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $34.60 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 0.54 and a beta of 1.38. The firm has a fifty day simple moving average of $35.12 and a two-hundred day simple moving average of $33.59. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05.

Baker Hughes (NASDAQ:BKR) last posted 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 during the quarter, compared to analysts’ expectations 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 company posted $0.39 earnings per share. Analysts expect that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio is currently 46.93%.

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.