Scout Investments Inc. Reduces Position in Baker Hughes (NASDAQ:BKR)

Scout Investments Inc. lowered its holdings in Baker Hughes (NASDAQ:BKR) by 28.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 439,986 shares of the company’s stock after selling 173,642 shares during the period. Scout Investments Inc.’s holdings in Baker Hughes were worth $14,713,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BKR. Spire Wealth Management increased its position in shares of Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after purchasing an additional 552 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in Baker Hughes during the 1st quarter worth approximately $27,000. Bruce G. Allen Investments LLC acquired a new position in shares of Baker Hughes in the 4th quarter worth approximately $33,000. Montag A & Associates Inc. increased its holdings in shares of Baker Hughes by 100.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Baker Hughes by 281.2% in the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after acquiring an additional 1,167 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Wednesday, April 24th. Jefferies Financial Group raised their target price on shares of Baker Hughes from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Morgan Stanley increased their price target on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Finally, Susquehanna reissued a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.93.

Baker Hughes Stock Up 0.2 %

Shares of NASDAQ BKR traded up $0.07 during mid-day trading on Friday, reaching $35.96. The company had a trading volume of 3,105,269 shares, compared to its average volume of 7,603,833. The stock has a fifty day moving average of $33.27 and a two-hundred day moving average of $32.14. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $37.58. The company has a market capitalization of $35.89 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 0.62 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the business posted $0.28 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities research analysts expect that Baker Hughes will post 2.09 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.34%. The ex-dividend date was Friday, May 3rd. Baker Hughes’s payout ratio is presently 46.93%.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the transaction, the executive vice president now owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by company insiders.

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.