Inspire Investing LLC Acquires New Position in Baker Hughes (NASDAQ:BKR)

Inspire Investing LLC bought a new position in shares of Baker Hughes (NASDAQ:BKR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,351 shares of the company’s stock, valued at approximately $844,000.

A number of other hedge funds also recently added to or reduced their stakes in BKR. Price T Rowe Associates Inc. MD raised its position in 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. Dimensional Fund Advisors LP lifted 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 buying an additional 680,621 shares in the last quarter. Legal & General Group Plc grew its holdings in Baker Hughes by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after buying an additional 692,859 shares during the last quarter. American Century Companies Inc. increased its position in Baker Hughes by 3.1% during the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock worth $291,005,000 after buying an additional 248,122 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Baker Hughes by 10.2% in the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after acquiring an additional 612,715 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Baker Hughes stock opened at $37.64 on Tuesday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The stock has a market cap of $37.56 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The stock has a 50 day moving average of $35.36 and a 200-day moving average of $34.21.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. On average, analysts expect that Baker Hughes will post 2.25 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were given a $0.21 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 annualized dividend and a dividend yield of 2.23%. Baker Hughes’s payout ratio is 46.93%.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BKR shares. BMO Capital Markets increased their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. TD Cowen increased their price target 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, Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $43.65.

Baker Hughes 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.