3,167 Shares in Baker Hughes (NASDAQ:BKR) Purchased by Family Firm Inc.

Family Firm Inc. bought a new stake in Baker Hughes (NASDAQ:BKR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,167 shares of the company’s stock, valued at approximately $111,000.

Several other large investors have also recently modified their holdings of BKR. Spire Wealth Management increased its holdings in shares of Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after buying an additional 552 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Baker Hughes during the first quarter valued at about $27,000. Montag A & Associates Inc. increased its holdings in Baker Hughes by 100.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the period. New Covenant Trust Company N.A. purchased a new stake in Baker Hughes in the 1st quarter worth approximately $34,000. Finally, UMB Bank n.a. lifted its stake in Baker Hughes by 281.2% in the first quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock worth $53,000 after acquiring an additional 1,167 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 1.7 %

BKR stock traded up $0.60 during midday trading on Friday, hitting $35.22. 3,101,087 shares of the company’s stock were exchanged, compared to its average volume of 7,433,926. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $39.05. The business has a 50-day simple moving average of $34.97 and a two-hundred day simple moving average of $32.95. The stock has a market capitalization of $35.15 billion, a PE ratio of 19.68, a P/E/G ratio of 0.61 and a beta of 1.41. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share. On average, sell-side analysts predict that Baker Hughes will post 2.2 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. Investors of record on Tuesday, August 6th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.39%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

Insider Activity at Baker Hughes

In related 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 completion of the transaction, the chief executive officer now owns 502,053 shares in the company, valued at $17,571,855. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of recent research reports. Piper Sandler cut their price objective on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Stifel Nicolaus raised their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Jefferies Financial Group increased their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their target price on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.38.

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.