Baker Hughes (NASDAQ:BKR) Shares Sold by Harmony Asset Management LLC

Harmony Asset Management LLC lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,047 shares of the company’s stock after selling 303 shares during the quarter. Harmony Asset Management LLC’s holdings in Baker Hughes were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new stake in Baker Hughes during the 1st quarter worth $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of Baker Hughes during the first quarter worth about $34,000. Alta Advisers Ltd purchased a new stake in shares of Baker Hughes in the 2nd quarter valued at about $42,000. Headlands Technologies LLC acquired a new stake in shares of Baker Hughes in the 2nd quarter valued at about $48,000. Finally, UMB Bank n.a. grew its stake in Baker Hughes by 281.2% during the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock worth $53,000 after buying an additional 1,167 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 0.9 %

Shares of NASDAQ BKR opened at $36.04 on Monday. The stock has a market capitalization of $35.97 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The firm has a 50-day moving average price of $35.19 and a 200 day moving average price of $33.71. 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 results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the previous year, the company earned $0.39 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts anticipate that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Announces Dividend

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

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction 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. 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.

Analyst Upgrades and Downgrades

BKR has been the subject of several research analyst reports. Piper Sandler decreased their price objective on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Morgan Stanley lowered their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. 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. UBS Group decreased their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Finally, Jefferies Financial Group boosted their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $43.19.

Baker Hughes Company 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.