Baker Hughes (NASDAQ:BKR) Shares Purchased by IFM Investors Pty Ltd

IFM Investors Pty Ltd increased its holdings in Baker Hughes (NASDAQ:BKR) by 33.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 269,720 shares of the company’s stock after purchasing an additional 67,212 shares during the quarter. IFM Investors Pty Ltd’s holdings in Baker Hughes were worth $9,750,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BKR. Commerzbank Aktiengesellschaft FI raised its position in Baker Hughes by 19.1% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 10,117 shares of the company’s stock worth $366,000 after acquiring an additional 1,620 shares during the period. Signaturefd LLC increased its stake in shares of Baker Hughes by 38.9% during the third quarter. Signaturefd LLC now owns 9,569 shares of the company’s stock worth $346,000 after purchasing an additional 2,679 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Baker Hughes by 156.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 19,873 shares of the company’s stock worth $718,000 after purchasing an additional 12,137 shares during the last quarter. Cetera Trust Company N.A lifted its stake in Baker Hughes by 8,538.3% in the 3rd quarter. Cetera Trust Company N.A now owns 16,931 shares of the company’s stock valued at $612,000 after buying an additional 16,735 shares in the last quarter. Finally, U S Global Investors Inc. purchased a new position in Baker Hughes in the 3rd quarter valued at about $362,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction that occurred on 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 owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on BKR. 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. Jefferies Financial Group increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Barclays raised their price objective on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday. Piper Sandler dropped their target price on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, UBS Group reduced their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.12.

Baker Hughes Stock Down 0.6 %

BKR stock opened at $36.78 on Friday. The firm has a market cap of $36.71 billion, a PE ratio of 20.55, a PEG ratio of 0.61 and a beta of 1.38. Baker Hughes has a one year low of $28.32 and a one year high of $39.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The firm’s 50 day moving average price is $35.61 and its 200-day moving average price is $34.35.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share. On average, equities research analysts anticipate that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.28%. The ex-dividend date is Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 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.