Signaturefd LLC Purchases 2,679 Shares of Baker Hughes (NASDAQ:BKR)

Signaturefd LLC grew its position in shares of Baker Hughes (NASDAQ:BKR) by 38.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,569 shares of the company’s stock after acquiring an additional 2,679 shares during the quarter. Signaturefd LLC’s holdings in Baker Hughes were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKR. UMB Bank n.a. lifted its position in Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after buying an additional 291 shares during the last quarter. Guinness Atkinson Asset Management Inc lifted its position in Baker Hughes by 6.9% in the second quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after buying an additional 467 shares during the last quarter. Meeder Advisory Services Inc. lifted its position in Baker Hughes by 5.2% in the first quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock worth $350,000 after buying an additional 520 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Baker Hughes by 26.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 2,867 shares of the company’s stock worth $104,000 after buying an additional 595 shares during the last quarter. Finally, HB Wealth Management LLC lifted its position in Baker Hughes by 4.2% in the first quarter. HB Wealth Management LLC now owns 17,296 shares of the company’s stock worth $579,000 after buying an additional 705 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the 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 transaction, the chief executive officer now owns 616,339 shares of the company’s stock, valued at approximately $23,759,868.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BKR. Evercore ISI raised their price target on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Citigroup reduced their target price on Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. TD Cowen increased their target price on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 target price on shares of Baker Hughes in a research note on Thursday. Finally, UBS Group reduced their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Stock Up 2.0 %

Shares of BKR opened at $37.52 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. Baker Hughes has a one year low of $28.32 and a one year high of $39.05. The stock has a market capitalization of $37.44 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 0.61 and a beta of 1.38. The stock has a 50 day moving average price of $35.70 and a 200 day moving average price of $34.39.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. Equities research analysts forecast that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

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.