MQS Management LLC Has $492,000 Stock Holdings in Baker Hughes Company $BKR

MQS Management LLC decreased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 27.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,838 shares of the company’s stock after selling 4,805 shares during the quarter. MQS Management LLC’s holdings in Baker Hughes were worth $492,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Baker Hughes by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company’s stock worth $5,367,096,000 after buying an additional 924,501 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Baker Hughes by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company’s stock worth $515,367,000 after buying an additional 175,495 shares in the last quarter. Invesco Ltd. lifted its holdings in Baker Hughes by 2.7% during the 1st quarter. Invesco Ltd. now owns 10,790,132 shares of the company’s stock worth $474,226,000 after buying an additional 283,454 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Baker Hughes by 3.9% during the 1st quarter. Alliancebernstein L.P. now owns 10,068,044 shares of the company’s stock valued at $442,491,000 after acquiring an additional 376,654 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Baker Hughes by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,262,413 shares of the company’s stock valued at $407,083,000 after acquiring an additional 707,471 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on BKR shares. BMO Capital Markets reiterated an “outperform” rating and set a $53.00 target price (up previously from $46.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. TD Cowen upped their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Industrial Alliance Securities set a $53.00 target price on shares of Baker Hughes in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, September 30th. Finally, Zephirin Group upped their target price on shares of Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. 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.com, the company has an average rating of “Moderate Buy” and an average target price of $52.91.

Baker Hughes Price Performance

BKR opened at $47.30 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $50.92. The company has a fifty day simple moving average of $46.53 and a 200 day simple moving average of $41.73. The stock has a market cap of $46.63 billion, a P/E ratio of 16.31, a P/E/G ratio of 2.04 and a beta of 0.99.

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

Baker Hughes Dividend Announcement

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

Insiders Place Their Bets

In other Baker Hughes news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This represents a 38.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer owned 11,772 shares of the company’s stock, valued at approximately $588,600. This trade represents a 7.83% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

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.