Bleakley Financial Group LLC Boosts Stake in Baker Hughes (NASDAQ:BKR)

Bleakley Financial Group LLC lifted its holdings in Baker Hughes (NASDAQ:BKR) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,145 shares of the company’s stock after purchasing an additional 2,424 shares during the period. Bleakley Financial Group LLC’s holdings in Baker Hughes were worth $708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. raised its position in shares of Baker Hughes by 15.5% during the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after purchasing an additional 327 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings 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 valued at $219,000 after acquiring an additional 398 shares during the last quarter. Aspire Private Capital LLC lifted its position in shares of Baker Hughes by 9.3% in the fourth quarter. Aspire Private Capital LLC now owns 5,733 shares of the company’s stock valued at $196,000 after acquiring an additional 486 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Baker Hughes by 6.4% in the first quarter. Checchi Capital Advisers LLC now owns 8,151 shares of the company’s stock worth $273,000 after acquiring an additional 490 shares during the last quarter. Finally, Montag A & Associates Inc. increased its position in shares of Baker Hughes by 100.0% during the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BKR has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. Jefferies Financial Group increased their price target on Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, June 28th. The Goldman Sachs Group boosted their price objective on Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. UBS Group lifted their price target on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Finally, Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $40.93.

Baker Hughes Price Performance

Shares of BKR opened at $36.16 on Thursday. The firm has a market capitalization of $36.09 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 0.62 and a beta of 1.41. The firm’s fifty day simple moving average is $33.20 and its 200-day simple moving average is $32.11. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 EPS. Equities analysts forecast that Baker Hughes will post 2.09 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. Shareholders of record on Monday, May 6th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s payout ratio is 46.93%.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction on 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 transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Baker Hughes 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.