Ritholtz Wealth Management Raises Holdings in Baker Hughes (NASDAQ:BKR)

Ritholtz Wealth Management grew its holdings in Baker Hughes (NASDAQ:BKR) by 96.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,631 shares of the company’s stock after purchasing an additional 12,606 shares during the period. Ritholtz Wealth Management’s holdings in Baker Hughes were worth $927,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position 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 purchasing an additional 4,207,973 shares during the period. Cardano Risk Management B.V. bought a new stake in shares of Baker Hughes in the first quarter worth $117,083,000. Legal & General Group Plc increased its position in Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after acquiring an additional 692,859 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 acquiring an additional 680,621 shares during the period. Finally, Clearbridge Investments LLC grew its stake in shares of Baker Hughes by 10.2% during the 1st 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 during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.2 %

Baker Hughes stock opened at $37.64 on Tuesday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The firm’s 50 day moving average price is $35.36 and its 200-day moving average price is $34.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The stock has a market cap of $37.56 billion, a P/E ratio of 21.03, a PEG ratio of 0.61 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. The business had revenue of $7.10 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. On average, equities analysts predict that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.23%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio is presently 46.93%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BKR. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Evercore ISI upped their price objective on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Bank of America lowered their target price on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, Benchmark restated a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $43.65.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the 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 completion of the transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.