Lmcg Investments LLC Decreases Holdings in Baker Hughes (NASDAQ:BKR)

Lmcg Investments LLC trimmed its holdings in shares of Baker Hughes (NASDAQ:BKR) by 1.2% in the third quarter, Holdings Channel reports. The institutional investor owned 129,291 shares of the company’s stock after selling 1,548 shares during the period. Lmcg Investments LLC’s holdings in Baker Hughes were worth $4,674,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Twin Tree Management LP lifted its holdings in shares of Baker Hughes by 183.0% in the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after purchasing an additional 219,060 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Baker Hughes by 20.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock valued at $25,544,000 after purchasing an additional 123,689 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Baker Hughes by 134.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 238,857 shares of the company’s stock valued at $8,002,000 after purchasing an additional 137,099 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Baker Hughes by 4.7% in the 1st quarter. National Bank of Canada FI now owns 869,786 shares of the company’s stock valued at $28,129,000 after purchasing an additional 39,031 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Baker Hughes by 7.6% in the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after purchasing an additional 455,307 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Piper Sandler reduced their price objective on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Bank of America reduced their price objective on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Morgan Stanley upped their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, Susquehanna upped their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $44.12.

Baker Hughes Price Performance

Shares of BKR traded down $0.23 on Friday, reaching $37.85. The stock had a trading volume of 7,921,211 shares, compared to its average volume of 7,227,976. The firm has a market capitalization of $37.60 billion, a PE ratio of 16.97, a PEG ratio of 0.64 and a beta of 1.38. 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 firm has a 50-day moving average of $35.98 and a 200 day moving average of $34.53. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. Sell-side analysts expect that Baker Hughes will post 2.28 EPS for the current year.

Baker Hughes Dividend Announcement

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

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the 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 sale, the chief executive officer now owns 502,053 shares in the company, valued at approximately $17,571,855. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by insiders.

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.