Thompson Siegel & Walmsley LLC Sells 1,420 Shares of Baker Hughes (NASDAQ:BKR)

Thompson Siegel & Walmsley LLC lowered its position in Baker Hughes (NASDAQ:BKR) by 1.2% in the second quarter, Holdings Channel.com reports. The fund owned 113,406 shares of the company’s stock after selling 1,420 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Baker Hughes were worth $3,988,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC lifted its position in shares of Baker Hughes by 7.8% during the 4th quarter. Private Advisor Group LLC now owns 11,889 shares of the company’s stock worth $406,000 after buying an additional 865 shares during the period. SCP Investment LP boosted its stake in shares of Baker Hughes by 31.3% in the 4th quarter. SCP Investment LP now owns 16,800 shares of the company’s stock valued at $546,000 after purchasing an additional 4,000 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Baker Hughes in the 4th quarter worth about $95,000. Norges Bank acquired a new stake in shares of Baker Hughes during the 4th quarter worth about $551,555,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Baker Hughes during the 4th quarter worth about $592,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Up 0.3 %

Baker Hughes stock opened at $33.40 on Monday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $35.09 and a 200-day moving average of $33.52. The stock has a market capitalization of $33.18 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $7.10 billion during 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 revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. On average, equities research analysts anticipate that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.51%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BKR shares. Stifel Nicolaus boosted their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Evercore ISI lifted their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Piper Sandler cut their price target on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. TD Cowen lifted their price objective on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company upped 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, July 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.38.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.