Baker Hughes (NASDAQ:BKR) Stake Reduced by First Hawaiian Bank

First Hawaiian Bank cut its holdings in Baker Hughes (NASDAQ:BKR) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,763 shares of the company’s stock after selling 1,564 shares during the quarter. First Hawaiian Bank’s holdings in Baker Hughes were worth $2,840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BKR. Spire Wealth Management grew its stake in Baker Hughes by 256.7% during the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after acquiring an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Baker Hughes during the first quarter worth approximately $27,000. Montag A & Associates Inc. raised 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 valued at $34,000 after purchasing an additional 500 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Baker Hughes in the first quarter valued at $34,000. Finally, UMB Bank n.a. raised its stake in shares of Baker Hughes by 281.2% in the first quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after purchasing an additional 1,167 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of NASDAQ BKR traded down $1.23 during midday trading on Monday, hitting $34.51. 8,532,076 shares of the company’s stock were exchanged, compared to its average volume of 7,636,632. The company’s 50 day moving average price is $34.17 and its 200 day moving average price is $32.48. The firm has a market capitalization of $34.28 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 12 month low of $28.32 and a 12 month high of $39.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

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

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be issued a $0.21 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.43%. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Buying and Selling at Baker Hughes

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

Analyst Ratings Changes

Several analysts have recently commented on BKR shares. Evercore ISI increased their target price on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their target price on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Susquehanna lifted their target price on Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Finally, Bank of America dropped their target price on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.00.

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.