Baker Hughes Company $BKR Shares Purchased by US Bancorp DE

US Bancorp DE raised its position in shares of Baker Hughes Company (NASDAQ:BKR) by 262.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 287,741 shares of the company’s stock after acquiring an additional 208,323 shares during the period. US Bancorp DE’s holdings in Baker Hughes were worth $11,032,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BKR. Farther Finance Advisors LLC grew its position in Baker Hughes by 73.1% during the first quarter. Farther Finance Advisors LLC now owns 6,945 shares of the company’s stock valued at $311,000 after acquiring an additional 2,933 shares during the period. GAMMA Investing LLC grew its position in Baker Hughes by 27.9% during the first quarter. GAMMA Investing LLC now owns 13,158 shares of the company’s stock valued at $578,000 after acquiring an additional 2,872 shares during the period. Assenagon Asset Management S.A. grew its position in Baker Hughes by 158.2% during the first quarter. Assenagon Asset Management S.A. now owns 89,122 shares of the company’s stock valued at $3,917,000 after acquiring an additional 54,610 shares during the period. Simon Quick Advisors LLC purchased a new stake in Baker Hughes during the first quarter valued at about $360,000. Finally, Fifth Third Bancorp grew its position in Baker Hughes by 7.2% during the first quarter. Fifth Third Bancorp now owns 46,007 shares of the company’s stock valued at $2,022,000 after acquiring an additional 3,108 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the sale, the chief executive officer owned 667,593 shares in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’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 value of $1,250,000.00. Following the sale, the executive vice president owned 40,520 shares in the company, valued at $2,026,000. The trade was a 38.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 553,068 shares of company stock worth $24,712,651. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BKR has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research report on Wednesday. TD Cowen upped their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Industrial Alliance Securities set a $53.00 target price on Baker Hughes in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. Finally, Evercore ISI upped their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Twenty-two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.57.

Baker Hughes Trading Down 6.0%

NASDAQ:BKR opened at $45.04 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a one year low of $33.60 and a one year high of $50.92. The business’s 50-day simple moving average is $45.93 and its 200 day simple moving average is $41.33. The stock has a market cap of $44.40 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 2.05 and a beta of 0.99.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The business had revenue of $5.09 billion for the quarter. As a group, sell-side analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a $0.23 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. Baker Hughes’s payout ratio is 30.07%.

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.