Diversified Trust Co Sells 2,194 Shares of Baker Hughes (NASDAQ:BKR)

Diversified Trust Co cut its stake in Baker Hughes (NASDAQ:BKR) by 4.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,835 shares of the company’s stock after selling 2,194 shares during the period. Diversified Trust Co’s holdings in Baker Hughes were worth $1,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BKR. Sequoia Financial Advisors LLC grew its position in Baker Hughes by 106.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 11,755 shares of the company’s stock worth $402,000 after acquiring an additional 6,062 shares in the last quarter. Cerity Partners LLC boosted its position in Baker Hughes by 34.6% during the fourth quarter. Cerity Partners LLC now owns 19,216 shares of the company’s stock valued at $657,000 after buying an additional 4,944 shares during the period. Graypoint LLC boosted its position in Baker Hughes by 8.7% during the fourth quarter. Graypoint LLC now owns 13,398 shares of the company’s stock valued at $458,000 after buying an additional 1,077 shares during the period. WCM Investment Management LLC boosted its position in Baker Hughes by 4.8% during the fourth quarter. WCM Investment Management LLC now owns 81,574 shares of the company’s stock valued at $2,790,000 after buying an additional 3,739 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in Baker Hughes during the fourth quarter valued at about $4,813,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the business’s 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 completion of the transaction, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Maria C. Borras sold 55,980 shares of the business’s 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 completion of the sale, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lorenzo Simonelli sold 114,286 shares of the company’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 transaction, the chief executive officer now owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The disclosure for this sale can be found here. In the last three months, insiders have sold 284,552 shares of company stock valued at $10,197,095. Company insiders own 0.25% of the company’s stock.

Baker Hughes Trading Up 0.5 %

Shares of BKR stock traded up $0.17 during trading hours on Wednesday, reaching $34.99. 222,574 shares of the stock were exchanged, compared to its average volume of 7,522,681. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $34.50 and its 200-day moving average price is $32.68. The firm has a market capitalization of $34.92 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 0.61 and a beta of 1.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data 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 company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. 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 earned $0.39 EPS. As a group, equities analysts anticipate that Baker Hughes will post 2.2 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Tuesday, August 6th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BKR. Wells Fargo & Company increased their target price on shares of Baker Hughes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Piper Sandler decreased their target price on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. raised their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Bank of America dropped their target price on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Royal Bank of Canada raised their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.00.

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.