Advisors Asset Management Inc. Has $118,000 Stock Position in Baker Hughes (NASDAQ:BKR)

Advisors Asset Management Inc. decreased its holdings in shares of Baker Hughes (NASDAQ:BKRGet Rating) by 37.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,092 shares of the company’s stock after selling 2,452 shares during the quarter. Advisors Asset Management Inc.’s holdings in Baker Hughes were worth $118,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BKR. JPMorgan Chase & Co. increased its stake in shares of Baker Hughes by 312.7% during the 1st quarter. JPMorgan Chase & Co. now owns 19,252,385 shares of the company’s stock worth $700,977,000 after purchasing an additional 14,587,722 shares during the last quarter. Capital World Investors increased its stake in shares of Baker Hughes by 9.4% during the 1st quarter. Capital World Investors now owns 116,492,563 shares of the company’s stock worth $4,241,658,000 after purchasing an additional 10,021,569 shares during the last quarter. Vanguard Group Inc. grew its stake in Baker Hughes by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 103,492,752 shares of the company’s stock valued at $3,768,172,000 after buying an additional 8,563,026 shares during the last quarter. Capital Research Global Investors grew its stake in Baker Hughes by 9.9% in the 1st quarter. Capital Research Global Investors now owns 94,780,843 shares of the company’s stock valued at $3,450,984,000 after buying an additional 8,526,488 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Baker Hughes by 104.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,411,529 shares of the company’s stock valued at $185,101,000 after buying an additional 3,280,083 shares during the last quarter. Institutional investors and hedge funds own 96.62% of the company’s stock.

Baker Hughes Price Performance

NASDAQ:BKR opened at $29.49 on Wednesday. The company has a 50-day moving average of $25.69 and a 200-day moving average of $27.86. The company has a market capitalization of $29.74 billion, a price-to-earnings ratio of -64.11 and a beta of 1.52. Baker Hughes has a 52 week low of $20.42 and a 52 week high of $39.78. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.51.

Baker Hughes (NASDAQ:BKRGet Rating) last released its quarterly earnings data on Wednesday, October 19th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.43 billion. Baker Hughes had a negative net margin of 2.36% and a positive return on equity of 4.77%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $0.16 EPS. As a group, equities research analysts anticipate that Baker Hughes will post 0.86 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.58%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently -165.22%.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of research analyst reports. Bank of America raised their target price on shares of Baker Hughes from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, October 20th. Royal Bank of Canada lowered their target price on shares of Baker Hughes from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. Morgan Stanley raised their target price on shares of Baker Hughes from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, October 20th. Jefferies Financial Group initiated coverage on shares of Baker Hughes in a research note on Wednesday, October 19th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Citigroup lowered their target price on shares of Baker Hughes from $40.00 to $36.00 in a research note on Tuesday, October 4th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $34.54.

Insider Transactions at Baker Hughes

In related news, EVP Rami Qasem sold 72,000 shares of Baker Hughes stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $31.21, for a total transaction of $2,247,120.00. Following the completion of the transaction, the executive vice president now directly owns 32,523 shares of the company’s stock, valued at approximately $1,015,042.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Gregory D. Brenneman sold 85,000 shares of Baker Hughes stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $31.23, for a total transaction of $2,654,550.00. Following the completion of the transaction, the director now directly owns 16,842 shares of the company’s stock, valued at approximately $525,975.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rami Qasem sold 72,000 shares of Baker Hughes stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $31.21, for a total transaction of $2,247,120.00. Following the transaction, the executive vice president now directly owns 32,523 shares of the company’s stock, valued at $1,015,042.83. The disclosure for this sale can be found here. In the last three months, insiders sold 275,492 shares of company stock valued at $8,532,265. Company insiders own 0.34% of the company’s stock.

Baker Hughes Profile

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Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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