China Universal Asset Management Co. Ltd. Buys 6,601 Shares of Baker Hughes (NASDAQ:BKR)

China Universal Asset Management Co. Ltd. lifted its stake in Baker Hughes (NASDAQ:BKR) by 110.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,601 shares of the company’s stock after purchasing an additional 6,601 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Baker Hughes were worth $456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BKR. Twin Tree Management LP raised its stake in Baker Hughes by 183.0% during the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock worth $11,348,000 after acquiring an additional 219,060 shares during the period. Wedge Capital Management L L P NC raised its position in shares of Baker Hughes by 20.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock valued at $25,544,000 after purchasing an additional 123,689 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Baker Hughes by 134.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 238,857 shares of the company’s stock valued at $8,002,000 after buying an additional 137,099 shares in the last quarter. Wakefield Asset Management LLLP boosted its holdings in Baker Hughes by 132.1% in the 1st quarter. Wakefield Asset Management LLLP now owns 118,484 shares of the company’s stock worth $3,969,000 after buying an additional 67,440 shares during the period. Finally, National Bank of Canada FI increased its stake in Baker Hughes by 4.7% in the 1st quarter. National Bank of Canada FI now owns 869,786 shares of the company’s stock worth $28,129,000 after buying an additional 39,031 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BKR has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, September 25th. Evercore ISI lifted their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Barclays boosted their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group raised their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.12.

Baker Hughes Price Performance

NASDAQ:BKR opened at $37.49 on Thursday. The firm has a market capitalization of $37.41 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 0.61 and a beta of 1.38. 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 business has a 50 day simple moving average of $35.86 and a 200-day simple moving average of $34.46. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05.

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, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the company earned $0.42 earnings per share. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. Equities analysts forecast that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Dividend Announcement

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

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s 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 owns 502,053 shares in the company, valued at $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

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.