Intech Investment Management LLC Has $6.94 Million Stock Holdings in Baker Hughes (NASDAQ:BKR)

Intech Investment Management LLC increased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 44.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 197,239 shares of the company’s stock after purchasing an additional 61,067 shares during the period. Intech Investment Management LLC’s holdings in Baker Hughes were worth $6,937,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BKR. SCP Investment LP lifted its position 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 purchasing an additional 4,000 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Baker Hughes in the 4th quarter valued at approximately $592,000. PNC Financial Services Group Inc. raised its holdings in Baker Hughes by 0.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 107,946 shares of the company’s stock valued at $3,690,000 after acquiring an additional 525 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Baker Hughes by 255.9% in the 4th quarter. Corient Private Wealth LLC now owns 332,623 shares of the company’s stock valued at $11,369,000 after acquiring an additional 239,160 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in Baker Hughes by 6.4% in the 4th quarter. Assetmark Inc. now owns 16,249 shares of the company’s stock valued at $555,000 after acquiring an additional 983 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on BKR. The Goldman Sachs Group upped their price target on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Susquehanna upped their price target on Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a report on Monday, July 29th. Wells Fargo & Company upped their price target on Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Evercore ISI increased their target price on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group increased their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.19.

Baker Hughes Trading Down 0.9 %

BKR stock opened at $36.04 on Friday. The business has a fifty day moving average price of $35.19 and a 200 day moving average price of $33.66. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. The stock has a market capitalization of $35.97 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 0.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $7.10 billion during the quarter, compared to analysts’ expectations 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 was up 12.4% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. Analysts expect that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were given a $0.21 dividend. 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 2.33%. Baker Hughes’s payout ratio is 46.93%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the 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 transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

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.