First Hawaiian Bank Grows Stock Holdings in Baker Hughes (NASDAQ:BKR)

First Hawaiian Bank raised its holdings in Baker Hughes (NASDAQ:BKR) by 10.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,338 shares of the company’s stock after purchasing an additional 8,298 shares during the period. First Hawaiian Bank’s holdings in Baker Hughes were worth $2,729,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BKR. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Baker Hughes in the first quarter valued at about $321,000. D.A. Davidson & CO. purchased a new position in shares of Baker Hughes during the first quarter valued at approximately $230,000. Synovus Financial Corp lifted its stake in shares of Baker Hughes by 31.7% during the first quarter. Synovus Financial Corp now owns 13,399 shares of the company’s stock valued at $488,000 after buying an additional 3,226 shares during the period. Cibc World Market Inc. lifted its stake in shares of Baker Hughes by 197.9% during the first quarter. Cibc World Market Inc. now owns 36,783 shares of the company’s stock valued at $1,339,000 after buying an additional 24,434 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Baker Hughes by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,748,743 shares of the company’s stock valued at $172,934,000 after buying an additional 204,220 shares during the period. Hedge funds and other institutional investors own 92.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. HSBC upped their price objective on shares of Baker Hughes from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, July 21st. TheStreet raised shares of Baker Hughes from a “c+” rating to a “b-” rating in a research report on Tuesday, July 18th. Stifel Nicolaus upped their price target on shares of Baker Hughes from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. UBS Group upped their price target on shares of Baker Hughes from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Finally, Capital One Financial initiated coverage on shares of Baker Hughes in a research report on Wednesday, June 7th. They set an “overweight” rating and a $38.00 price target for the company. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.44.

Baker Hughes Trading Up 1.2 %

NASDAQ BKR opened at $36.68 on Friday. Baker Hughes has a 12 month low of $20.42 and a 12 month high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.28 and a quick ratio of 0.88. The company has a market capitalization of $37.03 billion, a price-to-earnings ratio of 32.46 and a beta of 1.52. The company’s fifty day moving average price is $35.45 and its two-hundred day moving average price is $31.38.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, July 19th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. Baker Hughes had a net margin of 4.94% and a return on equity of 9.01%. The firm had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the prior year, the firm posted $0.11 EPS. The firm’s revenue was up 25.1% compared to the same quarter last year. As a group, research analysts predict that Baker Hughes will post 1.54 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Tuesday, August 8th were given a $0.20 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Monday, August 7th. Baker Hughes’s dividend payout ratio (DPR) is presently 70.80%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 10,000 shares of Baker Hughes stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $36.56, for a total value of $365,600.00. Following the sale, the executive vice president now directly owns 63,997 shares in the company, valued at approximately $2,339,730.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Baker Hughes news, CEO Lorenzo Simonelli sold 122,500 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $35.49, for a total transaction of $4,347,525.00. Following the transaction, the chief executive officer now owns 589,938 shares of the company’s stock, valued at approximately $20,936,899.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Maria C. Borras sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $36.56, for a total transaction of $365,600.00. Following the transaction, the executive vice president now directly owns 63,997 shares in the company, valued at approximately $2,339,730.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,500 shares of company stock worth $5,775,925. 0.24% of the stock is currently owned by insiders.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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.