DekaBank Deutsche Girozentrale Buys 96,471 Shares of Baker Hughes (NASDAQ:BKR)

DekaBank Deutsche Girozentrale raised its position in shares of Baker Hughes (NASDAQ:BKR) by 29.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 420,504 shares of the company’s stock after acquiring an additional 96,471 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Baker Hughes were worth $14,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares during the period. Norges Bank bought a new stake in Baker Hughes during the 4th quarter valued at about $551,555,000. Dimensional Fund Advisors LP boosted its position in Baker Hughes by 19.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock valued at $296,319,000 after buying an additional 1,395,083 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Baker Hughes by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock worth $227,579,000 after acquiring an additional 204,839 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Baker Hughes by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after acquiring an additional 612,715 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Bank of America decreased their price objective on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 15th. The Goldman Sachs Group increased their price objective on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company raised their target price on shares of Baker Hughes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Morgan Stanley boosted their price target on Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Finally, UBS Group upped their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Baker Hughes Stock Down 5.1 %

Shares of NASDAQ BKR traded down $1.91 during mid-day trading on Friday, hitting $35.74. The company had a trading volume of 8,698,273 shares, compared to its average volume of 6,407,531. The business’s 50-day simple moving average is $34.17 and its 200 day simple moving average is $32.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The company has a market capitalization of $35.50 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 0.61 and a beta of 1.41. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $39.05.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts predict that Baker Hughes will post 2.2 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Tuesday, August 6th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 55,980 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the sale, the executive vice president now owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.

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.