Baker Hughes (NASDAQ:BKR) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its position in shares of Baker Hughes (NASDAQ:BKR) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,841 shares of the company’s stock after purchasing an additional 398 shares during the period. First Trust Direct Indexing L.P.’s holdings in Baker Hughes were worth $1,079,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Twin Tree Management LP raised its position in shares of Baker Hughes by 183.0% during the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after buying an additional 219,060 shares during the period. Wedge Capital Management L L P NC raised its position in Baker Hughes by 20.5% in the second quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock valued at $25,544,000 after purchasing an additional 123,689 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Baker Hughes by 134.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 238,857 shares of the company’s stock valued at $8,002,000 after purchasing an additional 137,099 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Baker Hughes by 4.7% during the 1st quarter. National Bank of Canada FI now owns 869,786 shares of the company’s stock worth $28,129,000 after purchasing an additional 39,031 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Baker Hughes by 7.6% during the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock worth $223,523,000 after purchasing an additional 455,307 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BKR. UBS Group decreased their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Citigroup decreased their price objective on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, September 27th. The Goldman Sachs Group boosted their target price on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Evercore ISI raised their price target on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Bank of America dropped their price objective on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes Stock Down 0.6 %

Shares of NASDAQ:BKR opened at $37.85 on Friday. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. The firm’s 50 day moving average price is $35.98 and its 200 day moving average price is $34.53. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The stock has a market cap of $37.60 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 0.64 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 EPS. As a group, equities research analysts predict that Baker Hughes will post 2.28 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a $0.21 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.22%. Baker Hughes’s payout ratio is currently 37.67%.

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.