Family Firm Inc. bought a new stake in Baker Hughes (NASDAQ:BKR – Free Report) 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 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.
View Our Latest Research Report on Baker Hughes
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.
Recommended Stories
- Five stocks we like better than Baker Hughes
- What is the Australian Securities Exchange (ASX)
- CAVA Stock Rallies as Earnings Confirm It’s a Top Growth Play
- Stock Ratings and Recommendations: Understanding Analyst Ratings
- 3 High Short-Interest Stocks Poised for a Rate Cut Squeeze
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- MarketBeat Week in Review – 8/19 – 8/23
Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes (NASDAQ:BKR – Free Report).
Receive News & Ratings for Baker Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes and related companies with MarketBeat.com's FREE daily email newsletter.