GAMMA Investing LLC Raises Stock Position in Baker Hughes (NASDAQ:BKR)

GAMMA Investing LLC lifted its stake in Baker Hughes (NASDAQ:BKRFree Report) by 42.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,288 shares of the company’s stock after acquiring an additional 2,187 shares during the period. GAMMA Investing LLC’s holdings in Baker Hughes were worth $263,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BKR. Price T Rowe Associates Inc. MD grew its position in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after acquiring an additional 4,207,973 shares during the last quarter. Cardano Risk Management B.V. purchased a new stake in shares of Baker Hughes in the 1st quarter worth about $117,083,000. Goldman Sachs Group Inc. lifted its holdings in shares of Baker Hughes by 47.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock valued at $192,634,000 after purchasing an additional 1,822,487 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after acquiring an additional 692,859 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after purchasing an additional 680,621 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

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 transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Stock Up 0.1 %

BKR opened at $37.61 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The stock’s 50 day moving average price is $35.26 and its 200 day moving average price is $34.11. The stock has a market cap of $37.53 billion, a P/E ratio of 21.01, a P/E/G ratio of 0.59 and a beta of 1.38.

Baker Hughes (NASDAQ:BKRGet Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period last year, the firm posted $0.39 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. As a group, research analysts predict that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BKR shares. The Goldman Sachs Group boosted their price target on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Susquehanna upped their target price on shares of Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Evercore ISI lifted their price objective on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Piper Sandler reduced 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 note on Monday, July 15th. Finally, UBS Group decreased their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.65.

Read Our Latest Analysis on Baker Hughes

Baker Hughes Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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