Baker Hughes Company $BKR Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 298.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 829,871 shares of the company’s stock after acquiring an additional 621,459 shares during the quarter. Retirement Systems of Alabama’s holdings in Baker Hughes were worth $45,560,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BKR. Amundi boosted its position in Baker Hughes by 28.2% in the first quarter. Amundi now owns 10,946,464 shares of the company’s stock worth $668,282,000 after purchasing an additional 2,409,978 shares during the last quarter. Advent International L.P. purchased a new stake in shares of Baker Hughes during the 1st quarter valued at about $72,309,000. Assenagon Asset Management S.A. increased its position in shares of Baker Hughes by 1,289.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,210,521 shares of the company’s stock valued at $72,630,000 after purchasing an additional 1,123,391 shares during the last quarter. Perpetual Ltd increased its position in shares of Baker Hughes by 24.0% during the 3rd quarter. Perpetual Ltd now owns 3,958,604 shares of the company’s stock valued at $217,327,000 after purchasing an additional 765,582 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Baker Hughes during the 3rd quarter valued at about $38,380,000. Institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In other Baker Hughes news, Director John Rice purchased 10,000 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was acquired at an average cost of $53.10 per share, for a total transaction of $531,000.00. Following the purchase, the director directly owned 77,315 shares of the company’s stock, valued at $4,105,426.50. This trade represents a 14.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by insiders.

Baker Hughes Stock Performance

NASDAQ BKR opened at $47.77 on Wednesday. The firm has a market cap of $47.44 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 2.31 and a beta of 1.07. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average price of $56.32 and a 200-day moving average price of $59.97. Baker Hughes Company has a twelve month low of $44.26 and a twelve month high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 13.55% and a net margin of 10.08%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $0.68 earnings per share. As a group, equities research analysts predict that Baker Hughes Company will post 2.56 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Zacks Research cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 5th. Wall Street Zen lowered shares of Baker Hughes from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Freedom Broker upgraded shares of Baker Hughes from a “sell” rating to a “hold” rating and boosted their target price for the company from $51.00 to $52.00 in a research report on Friday, October 30th. Stifel Nicolaus upped their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, The Goldman Sachs Group began coverage on shares of Baker Hughes in a research report on Tuesday, September 29th. They issued a “buy” rating and a $71.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $70.27.

About Baker Hughes

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.