Russell Investments Group Ltd. Lowers Position in Baker Hughes Company $BKR

Russell Investments Group Ltd. decreased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,891,554 shares of the company’s stock after selling 56,743 shares during the period. Russell Investments Group Ltd.’s holdings in Baker Hughes were worth $72,508,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new stake in shares of Baker Hughes in the 1st quarter valued at about $30,000. Harbour Investments Inc. increased its position in shares of Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after purchasing an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in Baker Hughes in the second quarter valued at approximately $36,000. LRI Investments LLC lifted its position in Baker Hughes by 59.3% during the second quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the last quarter. Finally, Hilltop National Bank purchased a new position in Baker Hughes in the 2nd quarter worth approximately $43,000. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BKR shares. Zephirin Group raised their price objective on shares of Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. BMO Capital Markets raised their price target on Baker Hughes from $53.00 to $55.00 in a research report on Tuesday, November 11th. Melius Research began coverage on Baker Hughes in a research note on Wednesday, August 20th. They set a “buy” rating and a $60.00 price target for the company. TD Cowen increased their price objective on Baker Hughes from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Finally, Industrial Alliance Securities set a $53.00 target price on Baker Hughes in a research report on Wednesday, July 30th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $53.42.

Baker Hughes Stock Up 0.2%

BKR opened at $49.53 on Thursday. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $50.92. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $47.87 and its 200-day moving average price is $43.54. The company has a market cap of $48.87 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.06 and a beta of 1.03.

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

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s dividend payout ratio is 31.72%.

Insider Transactions at Baker Hughes

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

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.