Insider Buying: Baker Hughes (NASDAQ:BKR) Director Buys $531,000.00 in Stock

Baker Hughes Company (NASDAQ:BKR) Director John Rice bought 10,000 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The shares were purchased at an average price of $53.10 per share, for a total transaction of $531,000.00. Following the purchase, the director owned 77,315 shares in the company, valued at $4,105,426.50. This trade represents a 14.86% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $47.87 on Friday. The company has a market capitalization of $47.52 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.28 and a beta of 1.07. Baker Hughes Company has a 1-year low of $44.26 and a 1-year high of $70.41. The firm’s 50 day simple moving average is $56.92 and its two-hundred day simple moving average is $60.03. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 0.90.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.74 billion. Baker Hughes had a net margin of 10.08% and a return on equity of 13.55%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. Research analysts expect that Baker Hughes Company will post 2.56 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Tuesday, November 10th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.92 annualized dividend and a yield of 1.9%. Baker Hughes’s dividend payout ratio is currently 31.72%.

Institutional Trading of Baker Hughes

A number of institutional investors and hedge funds have recently bought and sold shares of BKR. Rasp Wealth Solutions LLC increased its holdings in shares of Baker Hughes by 7.3% in the 3rd quarter. Rasp Wealth Solutions LLC now owns 4,361 shares of the company’s stock worth $239,000 after buying an additional 297 shares during the last quarter. Aberdeen Group plc raised its position in shares of Baker Hughes by 3.8% during the 3rd quarter. Aberdeen Group plc now owns 1,517,963 shares of the company’s stock valued at $83,336,000 after buying an additional 55,534 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Baker Hughes by 16.9% during the 3rd quarter. Fisher Asset Management LLC now owns 872,675 shares of the company’s stock valued at $47,910,000 after buying an additional 126,051 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Baker Hughes by 1.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,272,200 shares of the company’s stock valued at $124,813,000 after acquiring an additional 39,796 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. lifted its holdings in shares of Baker Hughes by 27.2% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 2,544,172 shares of the company’s stock valued at $140,353,000 after acquiring an additional 543,546 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BKR has been the topic of a number of recent analyst reports. Citigroup decreased their price target on Baker Hughes from $75.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, October 19th. Freedom Broker raised Baker Hughes from a “sell” rating to a “hold” rating and upped their price objective for the stock from $51.00 to $52.00 in a research note on Friday, October 30th. Stifel Nicolaus lifted their target price on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Zacks Research cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Morgan Stanley lowered their price target on Baker Hughes from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.27.

Baker Hughes Company Profile

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing.

The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.

Baker Hughes serves customers around the world.