Baker Hughes Company $BKR Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its stake in Baker Hughes Company (NASDAQ:BKR) by 54.5% in the 2nd quarter, Holdings Channel reports. The firm owned 527,781 shares of the company’s stock after selling 631,074 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Baker Hughes were worth $20,235,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC acquired a new position in shares of Baker Hughes during the first quarter worth about $30,000. Harbour Investments Inc. raised its holdings in shares of Baker Hughes by 61.7% during the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after buying an additional 326 shares during the period. Zions Bancorporation National Association UT acquired a new position in Baker Hughes during the 1st quarter worth approximately $45,000. LRI Investments LLC lifted its position in Baker Hughes by 59.3% during the 2nd quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock worth $40,000 after acquiring an additional 384 shares in the last quarter. Finally, Hilltop National Bank purchased a new position in Baker Hughes in the 2nd quarter worth approximately $43,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at $588,600. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the transaction, the executive vice president directly owned 40,520 shares of the company’s stock, valued at $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

BKR has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Baker Hughes from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Zephirin Group raised their price target on shares of Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Melius Research began coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price objective on the stock. Capital One Financial upped their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Finally, Evercore ISI set a $54.00 target price on Baker Hughes in a research report on Monday, October 27th. Twenty-three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.29.

Baker Hughes Stock Performance

Shares of BKR opened at $47.87 on Friday. The stock has a market capitalization of $47.24 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03. The business’s fifty day moving average price is $47.23 and its 200 day moving average price is $42.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92.

Baker Hughes (NASDAQ:BKR) last issued its earnings results 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 for the quarter. Equities research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed 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 is Tuesday, November 4th. This represents a $0.92 annualized dividend and a yield of 1.9%. Baker Hughes’s dividend payout ratio is 31.72%.

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.