Sumitomo Mitsui DS Asset Management Company Ltd Acquires 820 Shares of Baker Hughes (NASDAQ:BKR)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,643 shares of the company’s stock after purchasing an additional 820 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Baker Hughes were worth $3,201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKR. Bruce G. Allen Investments LLC bought a new position in shares of Baker Hughes during the fourth quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new stake in Baker Hughes during the third quarter valued at approximately $36,000. Rational Advisors LLC lifted its position in Baker Hughes by 44.0% during the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after acquiring an additional 382 shares during the last quarter. Clearstead Advisors LLC lifted its position in Baker Hughes by 38.2% during the third quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock valued at $54,000 after acquiring an additional 421 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Baker Hughes during the third quarter valued at approximately $76,000. 92.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BKR has been the subject of a number of analyst reports. UBS Group increased their target price on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday. Morgan Stanley increased their target price on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday. Susquehanna reissued a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. Finally, Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Baker Hughes Trading Up 1.7 %

NASDAQ BKR opened at $33.00 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $31.82 and a two-hundred day simple moving average of $32.55. Baker Hughes has a 12-month low of $26.81 and a 12-month high of $37.58. The stock has a market cap of $33.03 billion, a P/E ratio of 17.28, a P/E/G ratio of 0.62 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, April 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter last year, the company posted $0.28 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. On average, analysts forecast that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. Baker Hughes’s dividend payout ratio (DPR) is presently 43.98%.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the transaction, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

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.