Baker Hughes (NASDAQ:BKR) Shares Bought by Signaturefd LLC

Signaturefd LLC grew its holdings in Baker Hughes (NASDAQ:BKR) by 38.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,569 shares of the company’s stock after buying an additional 2,679 shares during the quarter. Signaturefd LLC’s holdings in Baker Hughes were worth $346,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in Baker Hughes by 8.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company’s stock valued at $782,000 after purchasing an additional 1,829 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Baker Hughes by 98.7% during the first quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock worth $1,676,000 after purchasing an additional 24,850 shares during the last quarter. Oliver Luxxe Assets LLC boosted its holdings in shares of Baker Hughes by 0.5% during the first quarter. Oliver Luxxe Assets LLC now owns 147,749 shares of the company’s stock worth $4,950,000 after purchasing an additional 712 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Baker Hughes during the first quarter worth $27,000. Finally, Bourgeon Capital Management LLC boosted its holdings in shares of Baker Hughes by 1.1% during the first quarter. Bourgeon Capital Management LLC now owns 217,860 shares of the company’s stock worth $7,298,000 after purchasing an additional 2,441 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $38.55, for a total value of $4,405,725.30. Following the completion of the transaction, the chief executive officer now owns 616,339 shares in the company, valued at approximately $23,759,868.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BKR. Jefferies Financial Group lifted their target price on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 29th. The Goldman Sachs Group boosted their price objective on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays boosted their price objective on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 target price on shares of Baker Hughes in a research report on Thursday. Finally, BMO Capital Markets lifted their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $37.52 on Friday. 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 has a 1 year low of $28.32 and a 1 year high of $39.05. The business has a fifty day simple moving average of $35.70 and a 200 day simple moving average of $34.39. The firm has a market cap of $37.44 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 0.61 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share. As a group, sell-side analysts predict that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s dividend payout ratio is 46.93%.

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.