Baker Hughes Company $BKR Shares Sold by West Michigan Advisors LLC

West Michigan Advisors LLC reduced its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 15.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,205 shares of the company’s stock after selling 1,644 shares during the quarter. West Michigan Advisors LLC’s holdings in Baker Hughes were worth $353,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BKR. GAMMA Investing LLC grew its position in Baker Hughes by 27.9% during the 1st quarter. GAMMA Investing LLC now owns 13,158 shares of the company’s stock worth $578,000 after purchasing an additional 2,872 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Baker Hughes by 34.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,847 shares of the company’s stock worth $3,246,000 after purchasing an additional 19,048 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Baker Hughes by 71.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 30,932 shares of the company’s stock worth $1,359,000 after purchasing an additional 12,838 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Baker Hughes by 32.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,919 shares of the company’s stock valued at $963,000 after acquiring an additional 5,313 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company’s stock valued at $36,000 after acquiring an additional 465 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Shares of BKR opened at $47.30 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The stock has a market cap of $46.63 billion, a P/E ratio of 16.31, a PEG ratio of 2.11 and a beta of 0.99. The company has a 50-day moving average of $46.53 and a two-hundred day moving average of $41.69. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The business had revenue of $5.09 billion during the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.41%. As a group, research analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

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

Insider Buying and Selling

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the business’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 $50,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’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 $1,250,000.00. Following the completion of the sale, the executive vice president owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. The trade was a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $53.00 target price (up previously from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. The Goldman Sachs Group reduced their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, July 2nd. Barclays reiterated an “overweight” rating on shares of Baker Hughes in a research note on Tuesday, October 14th. Melius initiated coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Jefferies Financial Group set a $58.00 price objective on shares of Baker Hughes in a research note on Wednesday, July 30th. Twenty-one research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.91.

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.