Baker Hughes Company $BKR Position Increased by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Baker Hughes Company (NASDAQ:BKR) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,875,670 shares of the company’s stock after buying an additional 397,984 shares during the quarter. Geode Capital Management LLC owned 2.62% of Baker Hughes worth $987,961,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Baker Hughes by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company’s stock worth $5,367,096,000 after acquiring an additional 924,501 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Baker Hughes by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company’s stock valued at $515,367,000 after purchasing an additional 175,495 shares during the last quarter. Invesco Ltd. boosted its position in shares of Baker Hughes by 2.7% in the 1st quarter. Invesco Ltd. now owns 10,790,132 shares of the company’s stock valued at $474,226,000 after purchasing an additional 283,454 shares during the period. Alliancebernstein L.P. increased its stake in Baker Hughes by 3.9% in the 1st quarter. Alliancebernstein L.P. now owns 10,068,044 shares of the company’s stock worth $442,491,000 after purchasing an additional 376,654 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Baker Hughes by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,262,413 shares of the company’s stock worth $407,083,000 after buying an additional 707,471 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.0%

Shares of NASDAQ:BKR opened at $47.51 on Friday. The firm has a fifty day moving average of $47.44 and a two-hundred day moving average of $42.71. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92. The firm has a market capitalization of $46.88 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The business had revenue of $5.09 billion for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. On average, equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, November 4th. Baker Hughes’s payout ratio is currently 31.72%.

Insider Buying and Selling

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the transaction, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This represents a 38.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at approximately $588,600. The trade was a 7.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on BKR shares. Zephirin Group raised their target price on shares of Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. TD Cowen raised their price objective on shares of Baker Hughes from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. HSBC lifted their price objective on shares of Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Jefferies Financial Group set a $58.00 target price on Baker Hughes in a report on Wednesday, July 30th. Finally, Bank of America lifted their price target on Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Twenty-three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.38.

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.