Baker Hughes Company $BKR Stake Increased by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 3.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 150,521 shares of the company’s stock after purchasing an additional 4,647 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Baker Hughes were worth $5,771,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Kingsman Wealth Management Inc. purchased a new position in Baker Hughes during the 1st quarter valued at about $442,000. Empower Advisory Group LLC grew its position in Baker Hughes by 0.5% during the first quarter. Empower Advisory Group LLC now owns 2,120,493 shares of the company’s stock valued at $93,196,000 after purchasing an additional 9,524 shares in the last quarter. HB Wealth Management LLC grew its position in Baker Hughes by 51.3% during the first quarter. HB Wealth Management LLC now owns 40,808 shares of the company’s stock valued at $1,794,000 after purchasing an additional 13,839 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Baker Hughes by 10.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837,276 shares of the company’s stock valued at $80,748,000 after buying an additional 180,809 shares during the period. Finally, Invesco Ltd. increased its position in Baker Hughes by 2.7% in the 1st quarter. Invesco Ltd. now owns 10,790,132 shares of the company’s stock worth $474,226,000 after purchasing an additional 283,454 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on BKR shares. Melius Research assumed coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They set a “buy” rating and a $60.00 price target on the stock. Royal Bank Of Canada increased their target price on shares of Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. BMO Capital Markets boosted their price target on Baker Hughes from $53.00 to $55.00 in a research report on Tuesday. TD Cowen upped their price target on Baker Hughes from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Finally, Citigroup cut their price objective on Baker Hughes from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.38.

Insider Transactions at Baker Hughes

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president directly owned 40,520 shares of the company’s stock, valued at $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the transaction, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at approximately $588,600. This trade represents a 7.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is owned by company insiders.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $48.73 on Friday. The company has a market cap of $48.09 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 2.06 and a beta of 1.03. The business has a 50 day moving average price of $47.51 and a 200 day moving average price of $42.80. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $50.92.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $5.09 billion for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. Research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

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.