TD Asset Management Inc Sells 38,105 Shares of Baker Hughes Company $BKR

TD Asset Management Inc reduced its stake in Baker Hughes Company (NASDAQ:BKR) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 412,515 shares of the company’s stock after selling 38,105 shares during the quarter. TD Asset Management Inc’s holdings in Baker Hughes were worth $15,816,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new position in Baker Hughes in the 1st quarter worth $28,000. Golden State Wealth Management LLC raised its holdings in Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company’s stock worth $30,000 after purchasing an additional 604 shares during the period. N.E.W. Advisory Services LLC bought a new position in Baker Hughes in the 1st quarter worth $30,000. Spire Wealth Management raised its holdings in Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company’s stock worth $36,000 after purchasing an additional 465 shares during the period. Finally, LRI Investments LLC raised its holdings in Baker Hughes by 59.3% in the 2nd quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the period. 92.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BKR has been the topic of a number of recent research reports. Seaport Res Ptn cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 29th. Capital One Financial raised their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. TD Cowen raised their price target on Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Stifel Nicolaus decreased their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, Susquehanna raised their price target on Baker Hughes from $52.00 to $56.00 and gave the company a “positive” rating in a report on Thursday, October 2nd. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.91.

Baker Hughes Price Performance

NASDAQ:BKR opened at $45.18 on Friday. 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 business’s 50-day simple moving average is $46.08 and its two-hundred day simple moving average is $41.36. The stock has a market cap of $44.54 billion, a PE ratio of 14.76, a P/E/G ratio of 1.95 and a beta of 0.99. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $50.92.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The firm 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%. As a group, analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.0%. Baker Hughes’s dividend payout ratio (DPR) is presently 30.07%.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares in the company, valued at $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. The trade was a 38.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 553,068 shares of company stock worth $24,712,651 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.