Baker Hughes (NASDAQ:BKR) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in Baker Hughes (NASDAQ:BKR) by 13.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 868,796 shares of the company’s stock after purchasing an additional 102,352 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.09% of Baker Hughes worth $30,556,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKR. Price T Rowe Associates Inc. MD boosted its holdings in Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after purchasing an additional 4,207,973 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after buying an additional 680,621 shares during the last quarter. American Century Companies Inc. grew its holdings in Baker Hughes by 3.1% during the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock worth $291,005,000 after acquiring an additional 248,122 shares during the period. Clearbridge Investments LLC raised its position in Baker Hughes by 10.2% during the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after acquiring an additional 612,715 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Baker Hughes by 7.6% in the second quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after acquiring an additional 455,307 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Baker Hughes stock opened at $36.15 on Tuesday. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05. The firm has a market capitalization of $36.08 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 0.59 and a beta of 1.38. The company has a fifty day simple moving average of $35.20 and a 200-day simple moving average of $33.90. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last announced 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. 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 analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the company earned $0.39 EPS. Baker Hughes’s revenue was up 12.4% compared to the same quarter last year. On average, equities analysts anticipate that Baker Hughes will post 2.25 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.32%. Baker Hughes’s payout ratio is 46.93%.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BKR. Evercore ISI raised their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. TD Cowen lifted their price objective on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada increased their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Jefferies Financial Group lifted their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Citigroup lowered their price target on Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.38.

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.