23,600 Shares in Baker Hughes (NASDAQ:BKR) Purchased by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co acquired a new position in shares of Baker Hughes (NASDAQ:BKR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,600 shares of the company’s stock, valued at approximately $830,000.

Several other hedge funds have also bought and sold shares of BKR. Price T Rowe Associates Inc. MD increased its holdings in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after acquiring an additional 4,207,973 shares in the last quarter. Cardano Risk Management B.V. bought a new stake in Baker Hughes during the 1st quarter valued at about $117,083,000. Goldman Sachs Group Inc. raised its holdings in Baker Hughes by 47.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after buying an additional 1,822,487 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Baker Hughes by 31.6% in the fourth quarter. Hsbc Holdings PLC now owns 2,929,834 shares of the company’s stock worth $100,153,000 after buying an additional 702,788 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after buying an additional 680,621 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

BKR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Stifel Nicolaus upped their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 29th. Bank of America reduced their price objective on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 15th. Susquehanna upped their target price 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. Finally, 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 report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $43.19.

Baker Hughes Trading Down 0.2 %

Shares of Baker Hughes stock opened at $34.67 on Thursday. 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 $35.12 and its 200-day simple moving average is $33.59. 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 capitalization of $34.60 billion, a PE ratio of 19.37, a P/E/G ratio of 0.54 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. Baker Hughes’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 earnings per share. As a group, equities analysts anticipate that Baker Hughes will post 2.24 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.42%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio is 46.93%.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by company insiders.

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.