Mutual of America Capital Management LLC Sells 6,636 Shares of Baker Hughes Company $BKR

Mutual of America Capital Management LLC reduced its stake in Baker Hughes Company (NASDAQ:BKR) by 3.0% during the second quarter, Holdings Channel.com reports. The fund owned 215,571 shares of the company’s stock after selling 6,636 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Baker Hughes were worth $8,265,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in shares of Baker Hughes by 2.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company’s stock worth $27,314,000 after purchasing an additional 17,035 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Baker Hughes by 51.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company’s stock worth $1,075,000 after purchasing an additional 8,351 shares during the period. Principal Financial Group Inc. lifted its position in shares of Baker Hughes by 7.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company’s stock worth $54,462,000 after purchasing an additional 82,706 shares during the period. Stack Financial Management Inc purchased a new stake in shares of Baker Hughes in the 1st quarter worth approximately $12,890,000. Finally, Johnson Investment Counsel Inc. purchased a new stake in shares of Baker Hughes in the 1st quarter worth approximately $360,000. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BKR shares. 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 research report on Tuesday, September 16th. Bank of America upped their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Royal Bank Of Canada upped their price target on shares of Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. TD Cowen increased 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. Finally, Barclays reissued an “overweight” rating on shares of Baker Hughes in a research report on Tuesday, October 14th. Twenty-two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $52.91.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the transaction, the chief executive officer owned 667,593 shares of the company’s stock, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at approximately $588,600. This represents a 7.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 553,068 shares of company stock valued at $24,712,651. Insiders own 0.27% of the company’s stock.

Baker Hughes Trading Up 2.4%

NASDAQ BKR opened at $46.28 on Tuesday. The company has a fifty day simple moving average of $46.15 and a two-hundred day simple moving average of $41.43. The stock has a market cap of $45.63 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.95 and a beta of 0.99. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $5.09 billion during the quarter. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. On average, analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

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.