Swedbank AB Buys 128,031 Shares of Baker Hughes (NASDAQ:BKR)

Swedbank AB boosted its stake in shares of Baker Hughes (NASDAQ:BKR) by 24.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 656,571 shares of the company’s stock after buying an additional 128,031 shares during the quarter. Swedbank AB owned approximately 0.07% of Baker Hughes worth $23,735,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new stake in Baker Hughes during the 3rd quarter valued at about $294,000. Occidental Asset Management LLC lifted its holdings in Baker Hughes by 5.8% during the 3rd quarter. Occidental Asset Management LLC now owns 63,433 shares of the company’s stock valued at $2,293,000 after buying an additional 3,467 shares in the last quarter. Creative Planning increased its position in Baker Hughes by 12.3% during the 3rd quarter. Creative Planning now owns 69,572 shares of the company’s stock valued at $2,515,000 after purchasing an additional 7,596 shares during the period. Exchange Traded Concepts LLC increased its position in Baker Hughes by 93.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 19,522 shares of the company’s stock valued at $706,000 after purchasing an additional 9,440 shares during the period. Finally, Retirement Planning Group LLC purchased a new position in Baker Hughes during the 3rd quarter valued at about $266,000. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

BKR has been the topic of a number of research reports. Royal Bank of Canada raised their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. UBS Group cut their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Evercore ISI boosted their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Citigroup reduced their price objective on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.59.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction 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 transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Price Performance

Baker Hughes stock opened at $36.74 on Thursday. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The stock has a market cap of $36.67 billion, a P/E ratio of 20.53, a PEG ratio of 0.61 and a beta of 1.38. The company has a 50-day moving average price of $35.46 and a 200 day moving average price of $34.25. 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 posted its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $6.81 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Sell-side analysts anticipate that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.29%. Baker Hughes’s 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.