Diversified Trust Co Sells 40,138 Shares of Baker Hughes (NASDAQ:BKR)

Diversified Trust Co decreased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 83.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,697 shares of the company’s stock after selling 40,138 shares during the quarter. Diversified Trust Co’s holdings in Baker Hughes were worth $278,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 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 worth $581,729,000 after buying an additional 4,207,973 shares during the period. Cardano Risk Management B.V. purchased a new position in shares of Baker Hughes during the first quarter worth approximately $117,083,000. Goldman Sachs Group Inc. raised its stake in shares of Baker Hughes by 47.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock valued at $192,634,000 after acquiring an additional 1,822,487 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after purchasing an additional 692,859 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after purchasing an additional 680,621 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BKR. Citigroup decreased their target price on Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 27th. BMO Capital Markets upped their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday. The Goldman Sachs Group raised their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Susquehanna upped their price target on shares of Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Finally, Bank of America cut their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.65.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Stock Performance

BKR opened at $37.70 on Friday. The firm’s 50-day moving average price is $35.30 and its 200-day moving average price is $34.17. The company has a market cap of $37.45 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05.

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 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 quarter last year, the company posted $0.39 earnings per share. As a group, equities analysts anticipate that Baker Hughes will post 2.25 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders 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 2.23%. Baker Hughes’s payout ratio is presently 42.64%.

Baker Hughes 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.