iA Global Asset Management Inc. Grows Stake in Baker Hughes (NASDAQ:BKR)

iA Global Asset Management Inc. raised its position in shares of Baker Hughes (NASDAQ:BKR) by 31.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 186,543 shares of the company’s stock after acquiring an additional 44,738 shares during the quarter. iA Global Asset Management Inc.’s holdings in Baker Hughes were worth $6,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BKR. UMB Bank n.a. raised its position in shares of Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after purchasing an additional 291 shares during the period. Guinness Atkinson Asset Management Inc increased its position in shares of Baker Hughes by 6.9% during the second quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock valued at $253,000 after buying an additional 467 shares during the period. Checchi Capital Advisers LLC lifted its holdings 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 buying an additional 490 shares in the last quarter. Montag A & Associates Inc. lifted its stake in Baker Hughes by 100.0% in the 4th 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. Finally, Meeder Advisory Services Inc. boosted its holdings in Baker Hughes by 5.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock valued at $350,000 after purchasing an additional 520 shares during the period. 92.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BKR shares. The Goldman Sachs Group increased their price objective on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Bank of America lowered their price target on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 15th. TD Cowen boosted their price objective on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Piper Sandler decreased their price objective on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Evercore ISI lifted their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.38.

Baker Hughes Price Performance

BKR stock opened at $35.17 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The firm has a market capitalization of $35.10 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 0.61 and a beta of 1.41. The firm has a 50 day moving average price of $35.21 and a 200-day moving average price of $33.12. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. Equities research analysts forecast that Baker Hughes will post 2.2 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

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.