Price T Rowe Associates Inc. MD Increases Stock Position in Baker Hughes (NASDAQ:BKR)

Price T Rowe Associates Inc. MD increased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 32.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,364,995 shares of the company’s stock after purchasing an additional 4,207,973 shares during the period. Price T Rowe Associates Inc. MD owned 1.74% of Baker Hughes worth $581,729,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in Baker Hughes by 15.5% in the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after purchasing an additional 327 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Baker Hughes by 6.6% during the 4th 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 in the last quarter. Aspire Private Capital LLC lifted its position in Baker Hughes by 9.3% during 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 during the last quarter. Checchi Capital Advisers LLC boosted its stake in Baker Hughes by 6.4% in the first quarter. Checchi Capital Advisers LLC now owns 8,151 shares of the company’s stock valued at $273,000 after acquiring an additional 490 shares in the last quarter. Finally, Montag A & Associates Inc. grew its holdings in Baker Hughes by 100.0% in 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 during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

NASDAQ BKR traded down $0.10 on Monday, reaching $37.55. 1,613,062 shares of the company’s stock traded hands, compared to its average volume of 7,519,896. The firm has a market cap of $37.47 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 0.64 and a beta of 1.41. The stock has a 50 day moving average price of $33.64 and a 200-day moving average price of $32.25. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $37.98.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period last year, the business earned $0.39 earnings per share. Baker Hughes’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts predict that Baker Hughes will post 2.11 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.24%. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

Analyst Ratings Changes

Several analysts have recently commented on BKR shares. Wells Fargo & Company increased their price objective on Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Friday. Bank of America dropped their price target on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Stifel Nicolaus increased their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada upped their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.43.

Insider Transactions at Baker Hughes

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