Wealth Enhancement Advisory Services LLC Raises Holdings in Baker Hughes (NASDAQ:BKR)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Baker Hughes (NASDAQ:BKR) by 41.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,050 shares of the company’s stock after buying an additional 11,834 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Baker Hughes were worth $1,448,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Baker Hughes by 32.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 280,787 shares of the company’s stock valued at $10,150,000 after acquiring an additional 69,046 shares during the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of Baker Hughes by 8.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 6,502 shares of the company’s stock worth $235,000 after acquiring an additional 515 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Baker Hughes by 4.1% during the 3rd quarter. Ballentine Partners LLC now owns 21,568 shares of the company’s stock valued at $780,000 after acquiring an additional 840 shares during the period. Tectonic Advisors LLC lifted its position in shares of Baker Hughes by 5.6% during the third quarter. Tectonic Advisors LLC now owns 13,019 shares of the company’s stock worth $471,000 after purchasing an additional 687 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Baker Hughes by 15.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 40,838 shares of the company’s stock valued at $1,476,000 after purchasing an additional 5,570 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In other Baker Hughes 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 transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Morgan Stanley raised their target price on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Susquehanna lifted their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Citigroup reduced their price target on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Finally, Barclays lifted their price target on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes Trading Up 1.4 %

Shares of Baker Hughes stock opened at $38.17 on Tuesday. The firm has a market cap of $37.77 billion, a PE ratio of 17.12, a P/E/G ratio of 0.65 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. The business’s fifty day moving average is $36.04 and its two-hundred day moving average is $34.60.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same period in the prior year, the firm posted $0.42 EPS. The company’s revenue was up 4.0% on a year-over-year basis. Analysts anticipate that Baker Hughes will post 2.28 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 2.20%. Baker Hughes’s dividend payout ratio is presently 37.67%.

About Baker Hughes

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.