Redmont Wealth Advisors LLC Purchases New Position in Baker Hughes (NASDAQ:BKR)

Redmont Wealth Advisors LLC purchased a new stake in shares of Baker Hughes (NASDAQ:BKR) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 800 shares of the company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Baker Hughes in the 4th quarter worth approximately $551,555,000. Cardano Risk Management B.V. acquired a new position in shares of Baker Hughes during the 1st quarter valued at $117,083,000. Goldman Sachs Group Inc. lifted its position in shares of Baker Hughes by 47.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock valued at $192,634,000 after acquiring an additional 1,822,487 shares during the period. Alphinity Investment Management Pty Ltd lifted its position in shares of Baker Hughes by 348.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,324,511 shares of the company’s stock valued at $79,452,000 after acquiring an additional 1,805,870 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Baker Hughes by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock valued at $296,319,000 after acquiring an additional 1,395,083 shares during the period. 92.06% of the stock is owned by institutional investors.

Insider Activity at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the sale, the executive vice president now owns 92,035 shares in the company, valued at $2,945,120. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Morgan Stanley boosted their target price on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. The Goldman Sachs Group boosted their target price on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Jefferies Financial Group upped their price objective on shares of Baker Hughes from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.27.

Baker Hughes Trading Down 0.6 %

NASDAQ BKR opened at $34.47 on Thursday. The stock has a market capitalization of $34.40 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 0.59 and a beta of 1.41. Baker Hughes has a one year low of $28.32 and a one year high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. The business’s fifty day moving average is $32.73 and its 200-day moving average is $32.07.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 EPS. Equities research analysts predict that Baker Hughes will post 2.09 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Friday, May 3rd. Baker Hughes’s dividend payout ratio is currently 46.93%.

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.