Baker Hughes Company (NASDAQ:BKR) Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lessened its stake in Baker Hughes Company (NASDAQ:BKR) by 10.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 108,102 shares of the company’s stock after selling 12,178 shares during the period. Geneos Wealth Management Inc.’s holdings in Baker Hughes were worth $4,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Capital Research Global Investors boosted its position in shares of Baker Hughes by 0.6% in the 4th quarter. Capital Research Global Investors now owns 27,687,590 shares of the company’s stock valued at $1,135,744,000 after purchasing an additional 177,232 shares during the period. Geode Capital Management LLC lifted its stake in Baker Hughes by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock valued at $1,004,212,000 after buying an additional 465,832 shares during the last quarter. FMR LLC boosted its holdings in shares of Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company’s stock valued at $644,098,000 after acquiring an additional 1,744,225 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Baker Hughes by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company’s stock worth $473,880,000 after acquiring an additional 874,297 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Baker Hughes by 18.4% in the 4th quarter. Northern Trust Corp now owns 10,000,756 shares of the company’s stock valued at $410,231,000 after acquiring an additional 1,553,536 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $45.75 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 52-week low of $32.25 and a 52-week high of $49.40. The company has a 50-day simple moving average of $39.23 and a 200-day simple moving average of $40.99. The company has a market capitalization of $45.33 billion, a PE ratio of 14.95, a P/E/G ratio of 5.76 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.01%. Baker Hughes’s dividend payout ratio is presently 30.07%.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the sale, the chief executive officer owned 667,593 shares of the company’s stock, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BKR shares. The Goldman Sachs Group decreased their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, July 2nd. Stifel Nicolaus decreased their target price on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Susquehanna boosted their price target on Baker Hughes from $46.00 to $52.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Citigroup reduced their price objective on Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Evercore ISI dropped their target price on Baker Hughes from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.06.

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.