AE Wealth Management LLC Purchases 883 Shares of Baker Hughes Company (NASDAQ:BKR)

AE Wealth Management LLC boosted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,017 shares of the company’s stock after acquiring an additional 883 shares during the quarter. AE Wealth Management LLC’s holdings in Baker Hughes were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BKR. Greenleaf Trust raised its position in shares of Baker Hughes by 2.2% in the first quarter. Greenleaf Trust now owns 13,852 shares of the company’s stock valued at $609,000 after purchasing an additional 293 shares during the period. Commerce Bank raised its position in shares of Baker Hughes by 1.0% in the fourth quarter. Commerce Bank now owns 31,075 shares of the company’s stock valued at $1,275,000 after purchasing an additional 300 shares during the period. Grove Bank & Trust raised its position in shares of Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company’s stock valued at $33,000 after purchasing an additional 320 shares during the period. Ritholtz Wealth Management raised its position in shares of Baker Hughes by 1.0% in the first quarter. Ritholtz Wealth Management now owns 34,725 shares of the company’s stock valued at $1,526,000 after purchasing an additional 339 shares during the period. Finally, Black Cypress Capital Management LLC raised its position in shares of Baker Hughes by 0.4% in the fourth quarter. Black Cypress Capital Management LLC now owns 103,624 shares of the company’s stock valued at $4,251,000 after purchasing an additional 373 shares during the period. 92.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the sale, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Baker Hughes Trading Down 0.5%

Shares of Baker Hughes stock opened at $45.53 on Thursday. The company has a market capitalization of $45.11 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 5.65 and a beta of 0.91. 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 $32.25 and a 12-month high of $49.40. The firm’s 50-day moving average price is $39.41 and its two-hundred day moving average price is $41.02.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. On average, analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.02%. Baker Hughes’s payout ratio is 30.07%.

Analysts Set New Price Targets

BKR has been the topic of several research analyst reports. Citigroup dropped their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley upped their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday. Jefferies Financial Group restated a “buy” rating on shares of Baker Hughes in a research note on Sunday. UBS Group upped their price target on shares of Baker Hughes from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Susquehanna upped their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the company a “positive” rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.94.

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.