Baker Hughes Company $BKR Shares Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC raised its holdings in Baker Hughes Company (NASDAQ:BKR) by 9.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,084 shares of the company’s stock after purchasing an additional 1,425 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Baker Hughes were worth $617,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Prosperity Consulting Group LLC boosted its holdings in Baker Hughes by 2.7% during the first quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company’s stock worth $463,000 after buying an additional 278 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Baker Hughes by 1.4% during the second quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock worth $834,000 after buying an additional 292 shares in the last quarter. Greenleaf Trust boosted its holdings in Baker Hughes by 2.2% during the first quarter. Greenleaf Trust now owns 13,852 shares of the company’s stock worth $609,000 after buying an additional 293 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in Baker Hughes by 5.9% during the second quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock worth $205,000 after buying an additional 296 shares in the last quarter. Finally, City Center Advisors LLC boosted its holdings in Baker Hughes by 3.6% during the second quarter. City Center Advisors LLC now owns 8,486 shares of the company’s stock worth $325,000 after buying an additional 298 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the company’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 directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the executive vice president owned 40,520 shares of the company’s stock, valued at $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,068 shares of company stock valued at $24,712,651 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $45.04 on Monday. The firm has a 50 day simple moving average of $45.93 and a 200-day simple moving average of $41.31. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The firm has a market cap of $44.40 billion, a PE ratio of 14.72, a P/E/G ratio of 2.05 and a beta of 0.99. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $50.92.

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

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. Baker Hughes’s dividend payout ratio is presently 30.07%.

Wall Street Analyst Weigh In

A number of analysts recently commented on BKR shares. Morgan Stanley boosted their price objective on shares of Baker Hughes from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Zephirin Group boosted their price objective on shares of Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Evercore ISI boosted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Stifel Nicolaus decreased their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, TD Cowen boosted their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.57.

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.