Quantinno Capital Management LP Acquires 246,731 Shares of Baker Hughes Company $BKR

Quantinno Capital Management LP increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 67.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 614,773 shares of the company’s stock after purchasing an additional 246,731 shares during the period. Quantinno Capital Management LP owned approximately 0.06% of Baker Hughes worth $37,532,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. EFG International AG bought a new position in Baker Hughes in the 4th quarter worth approximately $26,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after buying an additional 468 shares during the last quarter. Quarry LP bought a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $31,000. MV Capital Management Inc. bought a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $34,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in shares of Baker Hughes in the fourth quarter worth $35,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 2.0%

BKR opened at $59.90 on Friday. Baker Hughes Company has a fifty-two week low of $41.96 and a fifty-two week high of $70.41. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.77. The firm’s fifty day moving average price is $59.47 and its two-hundred day moving average price is $60.25. The company has a market capitalization of $59.42 billion, a P/E ratio of 19.32, a P/E/G ratio of 2.30 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts anticipate that Baker Hughes Company will post 2.4 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s payout ratio is presently 29.68%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Argus upped their target price on shares of Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday. Susquehanna upped their price objective on shares of Baker Hughes from $70.00 to $72.00 and gave the company a “positive” rating in a research report on Tuesday. BMO Capital Markets increased their target price on shares of Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Finally, Zacks Research raised Baker Hughes from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $69.95.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the transaction, the chief accounting officer owned 15,997 shares in the company, valued at $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the sale, the chief executive officer directly owned 703,444 shares in the company, valued at $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is currently owned by insiders.

Baker Hughes Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.