Stack Financial Management Inc Sells 5,088 Shares of Baker Hughes Company $BKR

Stack Financial Management Inc decreased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 1.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 288,208 shares of the company’s stock after selling 5,088 shares during the quarter. Stack Financial Management Inc’s holdings in Baker Hughes were worth $11,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BKR. Nuveen LLC bought a new position in shares of Baker Hughes during the first quarter valued at approximately $404,385,000. Pacer Advisors Inc. grew its stake in Baker Hughes by 2,585.6% in the first quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company’s stock worth $169,511,000 after purchasing an additional 3,713,301 shares in the last quarter. 1832 Asset Management L.P. bought a new position in Baker Hughes in the first quarter worth approximately $70,685,000. Strs Ohio bought a new position in Baker Hughes in the first quarter worth approximately $60,490,000. Finally, AQR Capital Management LLC grew its stake in Baker Hughes by 27.8% in the first quarter. AQR Capital Management LLC now owns 5,457,164 shares of the company’s stock worth $234,958,000 after purchasing an additional 1,185,456 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes 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 completion of the sale, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief accounting officer owned 11,772 shares of the company’s stock, valued at $588,600. This trade represents a 7.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 553,068 shares of company stock worth $24,712,651. Insiders own 0.27% of the company’s stock.

Baker Hughes Stock Down 6.0%

Baker Hughes stock opened at $45.04 on Monday. The business has a fifty day moving average of $45.93 and a two-hundred day moving average of $41.31. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The firm has a market cap of $44.40 billion, a P/E ratio of 14.72, a P/E/G ratio of 2.05 and a beta of 0.99. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $50.92.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The company had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. On average, analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes’s payout ratio is presently 30.07%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Capital One Financial increased their price objective on Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Zephirin Group increased their price objective on Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research note on Wednesday, October 8th. Jefferies Financial Group set a $58.00 price objective on Baker Hughes in a research note on Wednesday, July 30th. Finally, Melius began coverage on Baker Hughes in a research note on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price objective on the stock. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.57.

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.