Lmcg Investments LLC Reduces Stock Position in Baker Hughes (NASDAQ:BKR)

Lmcg Investments LLC lessened its position in shares of Baker Hughes (NASDAQ:BKR) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 129,291 shares of the company’s stock after selling 1,548 shares during the quarter. Lmcg Investments LLC’s holdings in Baker Hughes were worth $4,674,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BKR. New Covenant Trust Company N.A. purchased a new stake in shares of Baker Hughes in the first quarter worth about $34,000. Alta Advisers Ltd acquired a new stake in Baker Hughes in the second quarter valued at approximately $42,000. Headlands Technologies LLC acquired a new stake in Baker Hughes in the second quarter valued at approximately $48,000. Quarry LP grew its holdings in Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after purchasing an additional 714 shares during the period. Finally, UMB Bank n.a. grew its holdings in Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after purchasing an additional 291 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Citigroup dropped their price objective on Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Susquehanna raised their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Evercore ISI raised their price objective on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group raised 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. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.12.

Baker Hughes Trading Down 0.6 %

NASDAQ:BKR traded down $0.23 on Friday, reaching $37.85. The company’s stock had a trading volume of 7,921,211 shares, compared to its average volume of 7,227,976. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. 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 50 day moving average price of $35.98 and a 200 day moving average price of $34.53. The firm 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 issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts anticipate that Baker Hughes will post 2.28 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 2.22%. Baker Hughes’s payout ratio is 37.67%.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

Baker Hughes 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.