Baker Hughes (NASDAQ:BKR) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its stake in Baker Hughes (NASDAQ:BKR) by 3.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 371,315 shares of the company’s stock after selling 12,741 shares during the quarter. Raymond James & Associates’ holdings in Baker Hughes were worth $13,423,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BKR. Price T Rowe Associates Inc. MD raised its position in 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 buying an additional 4,207,973 shares during the period. Dimensional Fund Advisors LP raised its position in 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 period. Legal & General Group Plc raised 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 buying an additional 692,859 shares during the period. American Century Companies Inc. raised its position in Baker Hughes by 3.1% during the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after buying an additional 248,122 shares during the period. Finally, Clearbridge Investments LLC raised its position in Baker Hughes by 10.2% during the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after buying an additional 612,715 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 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 in the company, valued at $17,571,855. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Performance

BKR opened at $37.52 on Monday. The company has a market cap of $37.44 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The stock has a 50-day moving average of $35.70 and a 200-day moving average of $34.39. Baker Hughes has a 52-week low of $28.32 and a 52-week 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.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. As a group, equities research analysts forecast that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

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

Analyst Upgrades and Downgrades

BKR has been the topic of several recent analyst reports. Bank of America dropped their price target 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. The Goldman Sachs Group upped their price target on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday. Benchmark reissued a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research report on Thursday. Finally, Barclays upped their target price on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.12.

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.