Fisher Asset Management LLC Increases Position in Baker Hughes Company $BKR

Fisher Asset Management LLC lifted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 716,879 shares of the company’s stock after purchasing an additional 33,471 shares during the period. Fisher Asset Management LLC’s holdings in Baker Hughes were worth $34,926,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BKR. Activest Wealth Management lifted its holdings in Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after buying an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after acquiring an additional 337 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in Baker Hughes during the second quarter worth approximately $36,000. Twin Peaks Wealth Advisors LLC acquired a new position in Baker Hughes in the second quarter valued at approximately $36,000. Finally, Rothschild Investment LLC increased its stake in Baker Hughes by 66.6% in the second quarter. Rothschild Investment LLC now owns 1,241 shares of the company’s stock valued at $48,000 after purchasing an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 3.5%

NASDAQ BKR opened at $62.54 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. The firm has a market cap of $61.80 billion, a PE ratio of 24.05, a P/E/G ratio of 1.76 and a beta of 0.83. Baker Hughes Company has a one year low of $33.60 and a one year high of $67.00. The firm’s fifty day moving average is $55.24 and its two-hundred day moving average is $50.00.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.11. The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s payout ratio is presently 35.38%.

Analysts Set New Price Targets

Several analysts have recently weighed in on BKR shares. UBS Group boosted their price objective on shares of Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. TD Cowen lifted their price target on shares of Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 price target on shares of Baker Hughes in a research report on Thursday, January 15th. Johnson Rice initiated coverage on Baker Hughes in a report on Wednesday, February 25th. They set a “buy” rating and a $68.00 price objective on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a report on Monday, December 29th. Twenty analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.61.

Insider Transactions at Baker Hughes

In other Baker Hughes news, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Maria Georgia Magno sold 19,150 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the completion of the sale, the insider owned 14,588 shares of the company’s stock, valued at $862,296.68. This trade represents a 56.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 40,001 shares of company stock worth $2,322,692 over the last 90 days. 0.27% of the stock is currently owned by insiders.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.