Sustainable Insight Capital Management LLC Makes New $271,000 Investment in Baker Hughes (NASDAQ:BKR)

Sustainable Insight Capital Management LLC purchased a new stake in Baker Hughes (NASDAQ:BKR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,700 shares of the company’s stock, valued at approximately $271,000.

Other hedge funds have also modified their holdings of the company. M&T Bank Corp raised its stake in shares of Baker Hughes by 2.5% in the 4th quarter. M&T Bank Corp now owns 52,125 shares of the company’s stock valued at $1,781,000 after acquiring an additional 1,260 shares during the period. Private Advisor Group LLC lifted its stake in Baker Hughes by 7.8% during the 4th quarter. Private Advisor Group LLC now owns 11,889 shares of the company’s stock worth $406,000 after acquiring an additional 865 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in Baker Hughes by 30.5% during the 4th quarter. Apollon Wealth Management LLC now owns 14,082 shares of the company’s stock valued at $481,000 after acquiring an additional 3,295 shares during the period. SCP Investment LP grew its holdings in shares of Baker Hughes by 31.3% in the fourth quarter. SCP Investment LP now owns 16,800 shares of the company’s stock valued at $546,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Montag A & Associates Inc. grew its stake in shares of Baker Hughes by 100.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BKR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Wells Fargo & Company lifted their target price on shares of Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Friday, July 26th. Royal Bank of Canada boosted their price target on Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, Bank of America lowered their target price on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $43.38.

Baker Hughes Price Performance

BKR stock opened at $33.94 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The stock’s 50 day moving average price is $35.21 and its 200 day moving average price is $33.34. The firm has a market cap of $33.87 billion, a P/E ratio of 18.96, a PEG ratio of 0.57 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 posted its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, sell-side analysts expect that Baker Hughes will post 2.24 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

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.