Baker Hughes (NASDAQ:BKR) Stake Raised by Pacer Advisors Inc.

Pacer Advisors Inc. raised its holdings in Baker Hughes (NASDAQ:BKR) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,111 shares of the company’s stock after acquiring an additional 3,740 shares during the quarter. Pacer Advisors Inc.’s holdings in Baker Hughes were worth $4,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. SCP Investment LP boosted its holdings in Baker Hughes by 31.3% during the fourth quarter. SCP Investment LP now owns 16,800 shares of the company’s stock worth $546,000 after buying an additional 4,000 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Baker Hughes by 6.4% during the 4th quarter. Assetmark Inc. now owns 16,249 shares of the company’s stock worth $555,000 after acquiring an additional 983 shares in the last quarter. US Bancorp DE grew its holdings in shares of Baker Hughes by 3.8% in the 4th quarter. US Bancorp DE now owns 98,166 shares of the company’s stock worth $3,355,000 after acquiring an additional 3,620 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Baker Hughes by 3.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 24,399 shares of the company’s stock worth $792,000 after purchasing an additional 725 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Baker Hughes by 1.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 301,769 shares of the company’s stock valued at $10,314,000 after purchasing an additional 5,540 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the transaction, the chief executive officer now owns 616,339 shares of the company’s stock, valued at $23,759,868.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on BKR. JPMorgan Chase & Co. upped their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Bank of America cut their target price on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. UBS Group decreased their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company upped their price target on Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.19.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $36.45 on Tuesday. The business’s 50-day simple moving average is $35.21 and its 200-day simple moving average is $33.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The firm has a market cap of $36.38 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 0.54 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the company earned $0.39 earnings per share. Baker Hughes’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, equities research analysts expect that Baker Hughes will post 2.24 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.30%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio is currently 46.93%.

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.