Sustainable Insight Capital Management LLC Purchases New Shares in Baker Hughes (NASDAQ:BKR)

Sustainable Insight Capital Management LLC acquired a new stake in Baker Hughes (NASDAQ:BKR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,700 shares of the company’s stock, valued at approximately $271,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Spire Wealth Management raised its position in shares of 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 stake in Baker Hughes during the first quarter worth about $27,000. Montag A & Associates Inc. boosted its stake in 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 acquiring an additional 500 shares during the period. New Covenant Trust Company N.A. bought a new position in shares of Baker Hughes during the first quarter valued at approximately $34,000. Finally, UMB Bank n.a. raised its position in shares of Baker Hughes by 281.2% during the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock worth $53,000 after purchasing an additional 1,167 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the completion of the sale, the chief executive officer now directly owns 616,339 shares in the company, valued at $23,759,868.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Baker Hughes Stock Performance

BKR stock opened at $33.94 on Friday. The firm has a 50 day moving average of $35.21 and a two-hundred day moving average of $33.34. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company has a market capitalization of $33.87 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 0.57 and a beta of 1.41. 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 posted its earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The business’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, equities analysts anticipate that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.47%. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

Analyst Ratings Changes

A number of brokerages recently commented on BKR. Susquehanna upped their price objective on Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Jefferies Financial Group boosted their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, TD Cowen raised their target price on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.38.

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.