Mirae Asset Global Investments Co. Ltd. cut its holdings in Baker Hughes (NASDAQ:BKR – Free Report) by 4.0% during the second quarter, Holdings Channel reports. The firm owned 861,614 shares of the company’s stock after selling 36,093 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Baker Hughes were worth $27,236,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. raised its position in Baker Hughes by 220.4% during the first quarter. Pacer Advisors Inc. now owns 124,636 shares of the company’s stock valued at $3,597,000 after purchasing an additional 85,735 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Baker Hughes by 1.2% during the first quarter. JPMorgan Chase & Co. now owns 51,167,608 shares of the company’s stock worth $1,476,697,000 after purchasing an additional 622,291 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of Baker Hughes by 11.1% during the second quarter. Park Avenue Securities LLC now owns 21,574 shares of the company’s stock valued at $682,000 after purchasing an additional 2,147 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Baker Hughes by 21.2% in the first quarter. Vanguard Personalized Indexing Management LLC now owns 53,225 shares of the company’s stock worth $1,536,000 after purchasing an additional 9,300 shares during the last quarter. Finally, Deuterium Capital Management LLC purchased a new position in Baker Hughes in the 1st quarter worth about $522,000. 92.22% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages recently issued reports on BKR. Citigroup boosted their price target on Baker Hughes from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Barclays raised their price target on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Bank of America increased their target price on shares of Baker Hughes from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, July 24th. UBS Group boosted their price target on shares of Baker Hughes from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Finally, Piper Sandler increased their target price on Baker Hughes from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, September 11th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $39.56.
Baker Hughes Trading Up 0.5 %
Shares of Baker Hughes stock opened at $33.87 on Tuesday. Baker Hughes has a 1 year low of $26.12 and a 1 year high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.88. The stock has a market cap of $34.08 billion, a PE ratio of 20.40 and a beta of 1.45. The firm has a fifty day moving average price of $34.97 and a 200 day moving average price of $33.38.
Baker Hughes (NASDAQ:BKR – Get Free Report) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. Baker Hughes had a return on equity of 9.94% and a net margin of 6.86%. The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same period last year, the business earned $0.26 earnings per share. Baker Hughes’s quarterly revenue was up 23.8% on a year-over-year basis. Equities research analysts predict that Baker Hughes will post 1.57 earnings per share for the current year.
Baker Hughes Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Friday, November 3rd. Baker Hughes’s dividend payout ratio (DPR) is presently 48.19%.
Insider Activity at Baker Hughes
In other Baker Hughes news, insider Regina Jones sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $35.19, for a total value of $351,900.00. Following the completion of the transaction, the insider now owns 62,873 shares in the company, valued at $2,212,500.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 40,000 shares of company stock worth $1,414,400. 0.24% of the stock is owned by company insiders.
Baker Hughes Profile
Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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.
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