Baker Hughes (NASDAQ:BKR) Position Raised by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Baker Hughes (NASDAQ:BKR) by 0.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,135,650 shares of the company’s stock after purchasing an additional 4,420 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.31% of Baker Hughes worth $105,044,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in shares of Baker Hughes by 10.0% in the third quarter. LPL Financial LLC now owns 160,631 shares of the company’s stock valued at $5,674,000 after buying an additional 14,542 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Baker Hughes by 109.5% in the third quarter. Federated Hermes Inc. now owns 9,958 shares of the company’s stock valued at $352,000 after buying an additional 5,204 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Baker Hughes by 616.2% in the third quarter. Lazard Asset Management LLC now owns 18,063 shares of the company’s stock valued at $637,000 after buying an additional 15,541 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Baker Hughes by 112.0% in the third quarter. Advisors Asset Management Inc. now owns 17,785 shares of the company’s stock valued at $628,000 after buying an additional 9,396 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new position in Baker Hughes during the 3rd quarter worth approximately $792,000. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on BKR shares. Jefferies Financial Group lifted their price objective on shares of Baker Hughes from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Morgan Stanley lifted their price objective 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 price objective on shares of Baker Hughes in a research report on Monday, April 8th. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Wednesday, April 24th. Finally, UBS Group lifted their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $41.27.

Baker Hughes Stock Down 0.6 %

BKR stock opened at $34.47 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $37.58. The company has a fifty day simple moving average of $32.73 and a 200 day simple moving average of $32.07. The firm has a market cap of $34.40 billion, a PE ratio of 19.26, a PEG ratio of 0.60 and a beta of 1.41.

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

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Friday, May 3rd. Baker Hughes’s dividend payout ratio is 46.93%.

Insiders Place Their Bets

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 transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.