Madison Asset Management LLC Has $20.54 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Madison Asset Management LLC cut its stake in Baker Hughes (NASDAQ:BKRFree Report) by 23.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 601,049 shares of the company’s stock after selling 179,704 shares during the period. Madison Asset Management LLC owned about 0.06% of Baker Hughes worth $20,544,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Baker Hughes by 15.5% during the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock valued at $85,000 after purchasing an additional 327 shares during the last quarter. Rational Advisors LLC increased its stake in shares of Baker Hughes by 44.0% in the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after buying an additional 382 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Baker Hughes by 6.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock worth $219,000 after acquiring an additional 398 shares during the last quarter. Huntington National Bank lifted its stake in shares of Baker Hughes by 8.2% during the third quarter. Huntington National Bank now owns 5,501 shares of the company’s stock valued at $194,000 after acquiring an additional 416 shares during the period. Finally, Blair William & Co. IL boosted its holdings in Baker Hughes by 2.8% in the third quarter. Blair William & Co. IL now owns 15,086 shares of the company’s stock valued at $533,000 after acquiring an additional 416 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Activity

In other news, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the sale, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the sale, the executive vice president now owns 92,035 shares of the company’s stock, valued at $2,945,120. The disclosure for this sale can be found here. Insiders have sold a total of 70,980 shares of company stock valued at $2,255,160 over the last quarter. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

BKR has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Wednesday, April 24th. Susquehanna restated a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. The Goldman Sachs Group increased their price target on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Morgan Stanley upped their target price on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. Finally, UBS Group lifted their price target on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.94.

Read Our Latest Analysis on BKR

Baker Hughes Stock Up 3.1 %

Shares of BKR traded up $1.00 during trading hours on Friday, hitting $33.48. The stock had a trading volume of 11,234,865 shares, compared to its average volume of 4,966,915. The firm has a 50 day simple moving average of $32.86 and a 200-day simple moving average of $32.13. Baker Hughes has a 1-year low of $26.96 and a 1-year high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. The firm has a market capitalization of $33.41 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 0.58 and a beta of 1.44.

Baker Hughes (NASDAQ:BKRGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 EPS. Sell-side analysts predict that Baker Hughes will post 2.08 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s dividend payout ratio is currently 46.93%.

Baker Hughes Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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