First Republic Investment Management Inc. lessened its holdings in Baker Hughes (NASDAQ:BKR – Get Rating) by 87.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,483 shares of the company's stock after selling 386,107 shares during the quarter. First Republic Investment Management Inc.'s holdings in Baker Hughes were worth $1,121,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in BKR. JPMorgan Chase & Co. grew its holdings in shares of Baker Hughes by 96.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 37,882,259 shares of the company's stock worth $1,093,660,000 after purchasing an additional 18,629,874 shares during the last quarter. FMR LLC grew its holdings in shares of Baker Hughes by 41.2% in the 2nd quarter. FMR LLC now owns 26,877,366 shares of the company's stock worth $775,950,000 after purchasing an additional 7,836,906 shares during the last quarter. Franklin Resources Inc. lifted its position in Baker Hughes by 214.6% during the 2nd quarter. Franklin Resources Inc. now owns 10,398,098 shares of the company's stock worth $300,193,000 after buying an additional 7,092,424 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Baker Hughes by 104.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,411,529 shares of the company's stock worth $185,101,000 after buying an additional 3,280,083 shares in the last quarter. Finally, State Street Corp lifted its position in Baker Hughes by 4.5% during the 2nd quarter. State Street Corp now owns 65,088,442 shares of the company's stock worth $1,879,103,000 after buying an additional 2,796,843 shares in the last quarter. Institutional investors own 97.40% of the company's stock.
Get Baker Hughes alerts:Baker Hughes Price Performance
Shares of BKR stock opened at $31.37 on Friday. Baker Hughes has a 12-month low of $20.42 and a 12-month high of $39.78. The firm has a market capitalization of $31.64 billion, a price-to-earnings ratio of -52.28 and a beta of 1.50. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average of $29.67 and a 200-day moving average of $26.97.
Baker Hughes (NASDAQ:BKR – Get Rating) last announced its quarterly earnings results on Monday, January 23rd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). Baker Hughes had a negative net margin of 2.85% and a positive return on equity of 5.98%. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $6.07 billion. During the same period last year, the firm earned $0.25 EPS. Baker Hughes's quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that Baker Hughes will post 1.59 earnings per share for the current year.Baker Hughes Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Stockholders of record on Monday, February 6th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Friday, February 3rd. Baker Hughes's dividend payout ratio (DPR) is -126.67%.
Insider Activity
In related news, EVP Neil Saunders sold 118,492 shares of the business's stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $30.64, for a total value of $3,630,594.88. Following the sale, the executive vice president now directly owns 54,417 shares of the company's stock, valued at approximately $1,667,336.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gregory D. Brenneman sold 85,000 shares of the business's stock in a transaction on Friday, November 11th. The shares were sold at an average price of $31.23, for a total value of $2,654,550.00. Following the sale, the director now directly owns 16,842 shares of the company's stock, valued at approximately $525,975.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Neil Saunders sold 118,492 shares of the business's stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $30.64, for a total transaction of $3,630,594.88. Following the completion of the sale, the executive vice president now directly owns 54,417 shares in the company, valued at $1,667,336.88. The disclosure for this sale can be found here. Insiders sold 295,114 shares of company stock valued at $9,120,434 in the last quarter. Company insiders own 0.29% of the company's stock.
Analysts Set New Price Targets
BKR has been the topic of several research reports. HSBC upped their price target on shares of Baker Hughes from $33.30 to $39.00 in a research report on Monday, January 30th. Jefferies Financial Group initiated coverage on shares of Baker Hughes in a research report on Wednesday, October 19th. They set a "buy" rating and a $35.00 price target on the stock. BMO Capital Markets upped their price target on shares of Baker Hughes from $33.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday. Evercore ISI upped their price target on shares of Baker Hughes from $33.00 to $37.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 24th. Finally, ATB Capital reduced their price target on shares of Baker Hughes to $37.00 in a research report on Thursday, October 20th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.21.
Baker Hughes Profile
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Baker Hughes Co is a holding company. The firm engages in the provision of oilfield products, services, and digital solutions. It operates through the following segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS) and Digital Solutions (DS). The OFS segment provides products and services for on and offshore operations across the lifecycle of a well, ranging from drilling, evaluation, completion, production, and intervention.
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