New York Life Investment Management LLC Has $5.69 Million Stock Position in Baker Hughes Company $BKR

New York Life Investment Management LLC boosted its stake in Baker Hughes Company (NASDAQ:BKR) by 1.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 148,346 shares of the company’s stock after buying an additional 1,889 shares during the period. New York Life Investment Management LLC’s holdings in Baker Hughes were worth $5,688,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in Baker Hughes in the 1st quarter valued at about $28,000. Golden State Wealth Management LLC boosted its holdings in Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company’s stock valued at $30,000 after purchasing an additional 604 shares during the period. N.E.W. Advisory Services LLC bought a new stake in Baker Hughes in the 1st quarter valued at about $30,000. Harbour Investments Inc. boosted its holdings in Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after purchasing an additional 326 shares during the period. Finally, Spire Wealth Management boosted its holdings in Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company’s stock valued at $36,000 after purchasing an additional 465 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Cowen reissued a “buy” rating on shares of Baker Hughes in a report on Monday. Capital One Financial upped their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. The Goldman Sachs Group cut their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, July 2nd. Zephirin Group upped their price target on shares of Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Finally, Citigroup cut their price target on shares of Baker Hughes from $56.00 to $55.00 and set a “buy” rating for the company in a report on Monday. Twenty-three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.29.

Insider Buying and Selling at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the transaction, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at $588,600. This represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction on 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 transaction, the executive vice president directly owned 40,520 shares in the company, valued at approximately $2,026,000. This represents a 38.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is owned by corporate insiders.

Baker Hughes Trading Up 1.0%

Shares of NASDAQ BKR opened at $48.32 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.92. The firm has a 50 day moving average price of $46.81 and a two-hundred day moving average price of $41.96. The stock has a market cap of $47.64 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99.

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. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. The company had revenue of $5.09 billion during the quarter. As a group, equities analysts forecast that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

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

Baker Hughes 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.