Bridges Investment Management Inc. Buys Shares of 8,930 Baker Hughes (NASDAQ:BKR)

Bridges Investment Management Inc. bought a new stake in Baker Hughes (NASDAQ:BKR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,930 shares of the company’s stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BKR. Redmont Wealth Advisors LLC acquired a new stake in Baker Hughes in the 1st quarter valued at approximately $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Baker Hughes in the 1st quarter worth approximately $34,000. Alta Advisers Ltd bought a new stake in shares of Baker Hughes in the 2nd quarter worth approximately $42,000. Headlands Technologies LLC bought a new stake in shares of Baker Hughes in the 2nd quarter worth approximately $48,000. Finally, UMB Bank n.a. lifted its position in shares of Baker Hughes by 281.2% in the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock worth $53,000 after acquiring an additional 1,167 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.9 %

Shares of BKR opened at $36.04 on Monday. The stock has a fifty day moving average price of $35.19 and a two-hundred day moving average price of $33.71. 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 52-week low of $28.32 and a 52-week high of $39.05. The company has a market cap of $35.97 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 0.54 and a beta of 1.38.

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

Baker Hughes Announces Dividend

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

Insider Activity

In other news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction on Thursday, August 8th. The stock was 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 directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BKR. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a research report on Friday, July 26th. Jefferies Financial Group raised their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Stifel Nicolaus raised their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Susquehanna raised their target price on Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Finally, Evercore ISI raised their target price on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.19.

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.