Intech Investment Management LLC Sells 55,259 Shares of Baker Hughes Company $BKR

Intech Investment Management LLC reduced its position in shares of Baker Hughes Company (NASDAQ:BKR) by 54.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,667 shares of the company’s stock after selling 55,259 shares during the quarter. Intech Investment Management LLC’s holdings in Baker Hughes were worth $2,274,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Baker Hughes by 0.5% during the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after buying an additional 598,159 shares in the last quarter. Geode Capital Management LLC increased its position in Baker Hughes by 1.6% during the second quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock worth $987,961,000 after acquiring an additional 397,984 shares during the period. Norges Bank acquired a new stake in Baker Hughes in the 2nd quarter worth about $862,722,000. Artisan Partners Limited Partnership boosted its holdings in Baker Hughes by 1.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 16,677,718 shares of the company’s stock valued at $639,424,000 after purchasing an additional 167,095 shares during the period. Finally, Invesco Ltd. grew its position in shares of Baker Hughes by 18.9% during the 2nd quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock worth $492,076,000 after purchasing an additional 2,044,402 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $62.54 on Wednesday. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $67.00. The company’s 50-day moving average is $55.24 and its 200 day moving average is $50.00. 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 company has a market capitalization of $61.80 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 1.76 and a beta of 0.83.

Baker Hughes (NASDAQ:BKR) last posted 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. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter last year, the company earned $0.70 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, equities research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is currently 35.38%.

Insiders Place Their Bets

In other Baker Hughes news, Director William G. Beattie sold 18,023 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 843 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total value of $47,494.62. Following the transaction, the chief accounting officer directly owned 14,019 shares of the company’s stock, valued at $789,830.46. This represents a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,001 shares of company stock valued at $2,322,692 over the last three months. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Evercore reiterated an “outperform” rating and set a $68.00 target price on shares of Baker Hughes in a research report on Wednesday, February 11th. Johnson Rice assumed coverage on shares of Baker Hughes in a research note on Wednesday, February 25th. They set a “buy” rating and a $68.00 price objective on the stock. BMO Capital Markets boosted their target price on shares of Baker Hughes from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, iA Financial set a $60.00 price objective on shares of Baker Hughes in a research note on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.61.

About Baker Hughes

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.