Vanguard Personalized Indexing Management LLC Buys 6,496 Shares of Baker Hughes (NASDAQ:BKR)

Vanguard Personalized Indexing Management LLC boosted its stake in shares of Baker Hughes (NASDAQ:BKR) by 8.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,822 shares of the company’s stock after buying an additional 6,496 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Baker Hughes were worth $2,914,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SCP Investment LP raised its stake in shares of Baker Hughes by 31.3% during the 4th quarter. SCP Investment LP now owns 16,800 shares of the company’s stock worth $546,000 after acquiring an additional 4,000 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Baker Hughes during the 4th quarter worth approximately $592,000. PNC Financial Services Group Inc. raised its stake in shares of Baker Hughes by 0.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 107,946 shares of the company’s stock worth $3,690,000 after acquiring an additional 525 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Baker Hughes by 255.9% during the 4th quarter. Corient Private Wealth LLC now owns 332,623 shares of the company’s stock worth $11,369,000 after acquiring an additional 239,160 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Baker Hughes by 6.4% during the 4th quarter. Assetmark Inc. now owns 16,249 shares of the company’s stock worth $555,000 after acquiring an additional 983 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank of Canada boosted their target price 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. Wells Fargo & Company upped their price objective on shares of Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. JPMorgan Chase & Co. upped their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Bank of America dropped their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Evercore ISI upped their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.19.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the completion of the sale, the chief executive officer now owns 616,339 shares in the company, valued at approximately $23,759,868.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Baker Hughes Trading Down 0.9 %

Shares of BKR stock opened at $36.04 on Friday. The firm has a 50-day moving average price of $35.19 and a 200 day moving average price of $33.66. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The company has a market capitalization of $35.97 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 0.54 and a beta of 1.38. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Research analysts forecast that Baker Hughes will post 2.24 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s payout ratio is currently 46.93%.

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.