Baker Hughes (NASDAQ:BKR) is Palouse Capital Management Inc.’s 8th Largest Position

Palouse Capital Management Inc. decreased its holdings in Baker Hughes (NASDAQ:BKR) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,167 shares of the company’s stock after selling 1,794 shares during the period. Baker Hughes comprises approximately 2.6% of Palouse Capital Management Inc.’s portfolio, making the stock its 8th largest position. Palouse Capital Management Inc.’s holdings in Baker Hughes were worth $3,875,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in shares of 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 worth $581,729,000 after buying an additional 4,207,973 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after purchasing an additional 680,621 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Baker Hughes by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after purchasing an additional 248,122 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Baker Hughes by 10.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after purchasing an additional 612,715 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Baker Hughes by 47.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after purchasing an additional 1,822,487 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on BKR shares. UBS Group cut their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday. Wells Fargo & Company boosted their target price on Baker Hughes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada boosted their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group upped their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.19.

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value 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 approximately $17,571,855. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $34.67 on Thursday. 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 has a one year low of $28.32 and a one year high of $39.05. The company has a 50-day simple moving average of $35.12 and a 200-day simple moving average of $33.59. The stock has a market capitalization of $34.60 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 0.54 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period last year, the firm earned $0.39 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, analysts predict that Baker Hughes will post 2.24 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s dividend payout ratio 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.