Qtron Investments LLC Sells 13,028 Shares of Baker Hughes Company $BKR

Qtron Investments LLC cut its holdings in Baker Hughes Company (NASDAQ:BKR) by 40.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,827 shares of the company’s stock after selling 13,028 shares during the period. Qtron Investments LLC’s holdings in Baker Hughes were worth $722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BKR. Harbour Investments Inc. boosted its position in Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after purchasing an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new stake in shares of Baker Hughes during the 2nd quarter worth $36,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Baker Hughes during the 2nd quarter worth $36,000. LRI Investments LLC boosted its holdings in shares of Baker Hughes by 59.3% in the 2nd quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock worth $40,000 after buying an additional 384 shares during the last quarter. Finally, Hilltop National Bank bought a new position in Baker Hughes during the second quarter valued at about $43,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Shares of BKR stock opened at $49.20 on Friday. The stock has a market capitalization of $48.55 billion, a P/E ratio of 16.97, a PEG ratio of 1.84 and a beta of 0.90. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average is $48.03 and its 200 day moving average is $44.08. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $51.12.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. The business had revenue of $5.09 billion during the quarter. On average, sell-side analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s payout ratio is presently 31.72%.

Insiders Place Their Bets

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the sale, the chief accounting officer owned 11,772 shares of the company’s stock, valued at approximately $588,600. This represents a 7.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value 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 approximately $2,026,000. This represents a 38.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of Baker Hughes from $53.00 to $55.00 in a report on Tuesday, November 11th. Piper Sandler raised their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Melius Research began coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price target on the stock. Barclays upped their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Finally, Stifel Nicolaus raised their target price on Baker Hughes from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Twenty-three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.42.

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.