American International Group Inc. Trims Holdings in Baker Hughes (NASDAQ:BKR)

American International Group Inc. cut its holdings in shares of Baker Hughes (NASDAQ:BKR) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 330,346 shares of the company’s stock after selling 3,496 shares during the period. American International Group Inc.’s holdings in Baker Hughes were worth $11,067,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in Baker Hughes by 15.5% in the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after purchasing an additional 327 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its position in Baker Hughes by 6.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock valued at $219,000 after buying an additional 398 shares in the last quarter. Aspire Private Capital LLC raised its stake in Baker Hughes by 9.3% during the fourth quarter. Aspire Private Capital LLC now owns 5,733 shares of the company’s stock valued at $196,000 after buying an additional 486 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in Baker Hughes by 6.4% in the first quarter. Checchi Capital Advisers LLC now owns 8,151 shares of the company’s stock worth $273,000 after acquiring an additional 490 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 during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BKR. Jefferies Financial Group upped their price target on Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, June 28th. Morgan Stanley lifted their target price on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. UBS Group increased their price target on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Wednesday, April 24th. Finally, Piper Sandler reduced their price target on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.92.

Baker Hughes Trading Down 2.1 %

NASDAQ:BKR traded down $0.75 during midday trading on Wednesday, hitting $34.90. 4,957,103 shares of the company traded hands, compared to its average volume of 7,545,945. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $37.58. The firm has a market capitalization of $34.83 billion, a P/E ratio of 19.50, a P/E/G ratio of 0.61 and a beta of 1.41. The firm’s fifty day moving average is $33.50 and its 200-day moving average is $32.17.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. On average, sell-side analysts predict that Baker Hughes will post 2.09 EPS for the current year.

Insider Activity

In related news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

About Baker Hughes

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.