Vanguard Group Inc. Has $4.17 Billion Position in Baker Hughes (NASDAQ:BKR)

Vanguard Group Inc. reduced its stake in Baker Hughes (NASDAQ:BKR) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,897,791 shares of the company’s stock after selling 553,433 shares during the period. Vanguard Group Inc. owned about 12.18% of Baker Hughes worth $4,166,466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in shares of Baker Hughes by 15.5% in the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock valued at $85,000 after purchasing an additional 327 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Baker Hughes by 6.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock worth $219,000 after buying an additional 398 shares during the period. Blair William & Co. IL boosted its position in Baker Hughes by 2.8% during the 3rd quarter. Blair William & Co. IL now owns 15,086 shares of the company’s stock worth $533,000 after buying an additional 416 shares during the period. Clearstead Advisors LLC boosted its position in Baker Hughes by 38.2% during the 3rd quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock worth $54,000 after buying an additional 421 shares during the period. Finally, Aspire Private Capital LLC boosted its position in Baker Hughes by 9.3% during the 4th quarter. Aspire Private Capital LLC now owns 5,733 shares of the company’s stock worth $196,000 after buying an additional 486 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the sale, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $32.03 on Tuesday. The company has a fifty day moving average of $32.48 and a 200-day moving average of $31.97. The firm has a market capitalization of $31.97 billion, a P/E ratio of 17.89, a P/E/G ratio of 0.53 and a beta of 1.43. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $37.58.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. Baker Hughes’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. As a group, sell-side analysts anticipate that Baker Hughes will post 2.09 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.62%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Analysts Set New Price Targets

Several equities research analysts recently commented on BKR shares. Morgan Stanley lifted their target price on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Susquehanna reiterated a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. UBS Group lifted their target price on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group lifted their target price on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.13.

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.