Mediolanum International Funds Ltd Sells 4,369 Shares of Baker Hughes (NASDAQ:BKR)

Mediolanum International Funds Ltd trimmed its position in shares of Baker Hughes (NASDAQ:BKR) by 3.5% during the third quarter, Holdings Channel.com reports. The fund owned 121,651 shares of the company’s stock after selling 4,369 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Baker Hughes were worth $4,394,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Lake Street Advisors Group LLC grew its holdings in Baker Hughes by 8.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 6,502 shares of the company’s stock valued at $235,000 after buying an additional 515 shares in the last quarter. Ballentine Partners LLC boosted its stake in Baker Hughes by 4.1% in the third quarter. Ballentine Partners LLC now owns 21,568 shares of the company’s stock worth $780,000 after buying an additional 840 shares in the last quarter. Tectonic Advisors LLC grew its position in Baker Hughes by 5.6% during the third quarter. Tectonic Advisors LLC now owns 13,019 shares of the company’s stock valued at $471,000 after acquiring an additional 687 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Baker Hughes by 15.8% during the third quarter. Assenagon Asset Management S.A. now owns 40,838 shares of the company’s stock worth $1,476,000 after acquiring an additional 5,570 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Baker Hughes by 33.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 269,720 shares of the company’s stock worth $9,750,000 after acquiring an additional 67,212 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

Baker Hughes Trading Up 2.0 %

BKR stock opened at $37.52 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The company has a market capitalization of $37.44 billion, a PE ratio of 20.96, a P/E/G ratio of 0.61 and a beta of 1.38. The firm’s 50-day moving average is $35.70 and its 200 day moving average is $34.39. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the prior year, the business earned $0.42 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts anticipate that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a $0.21 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 2.24%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. TD Cowen raised their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Bank of America lowered their price objective on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Citigroup cut their price objective on Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a report on Friday, September 27th. Finally, Barclays raised their price objective on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $44.12.

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.