Massmutual Trust Co. FSB ADV Grows Position in Baker Hughes (NASDAQ:BKR)

Massmutual Trust Co. FSB ADV raised its holdings in shares of Baker Hughes (NASDAQ:BKR) by 26.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,867 shares of the company’s stock after purchasing an additional 595 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Baker Hughes were worth $104,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake 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 buying an additional 4,207,973 shares during the last quarter. Cardano Risk Management B.V. purchased a new position in shares of Baker Hughes in the 1st quarter valued at approximately $117,083,000. Goldman Sachs Group Inc. boosted its stake in Baker Hughes by 47.8% in the 4th 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. Legal & General Group Plc grew its position in Baker Hughes by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Baker Hughes by 7.4% during 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 in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In related 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 transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR stock opened at $37.93 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The firm has a market cap of $37.85 billion, a P/E ratio of 21.19, a P/E/G ratio of 0.59 and a beta of 1.38. The firm’s 50 day moving average price is $35.31 and its 200-day moving average price is $34.03. Baker Hughes has a one year low of $28.32 and a one year high of $39.05.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.08. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. Baker Hughes’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. As a group, equities research analysts predict that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders 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 2.21%. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Analyst Ratings Changes

Several equities analysts recently issued reports on BKR shares. The Goldman Sachs Group upped their target price on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Susquehanna increased their price objective on Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a report on Monday, July 29th. TD Cowen lifted their target price on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Jefferies Financial Group increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.56.

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.