Bleakley Financial Group LLC Has $640,000 Stake in Baker Hughes (NASDAQ:BKR)

Bleakley Financial Group LLC cut its stake in Baker Hughes (NASDAQ:BKR) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,721 shares of the company’s stock after selling 1,865 shares during the period. Bleakley Financial Group LLC’s holdings in Baker Hughes were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Hall Laurie J Trustee bought a new stake in Baker Hughes in the 3rd quarter valued at approximately $28,000. Bruce G. Allen Investments LLC bought a new position in Baker Hughes in the fourth quarter valued at $33,000. OFI Invest Asset Management bought a new stake in Baker Hughes during the 3rd quarter worth about $36,000. Quarry LP grew its holdings in shares of Baker Hughes by 41.3% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $36,000 after acquiring an additional 331 shares in the last quarter. Finally, Rational Advisors LLC increased its position in shares of Baker Hughes by 44.0% in the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after acquiring an additional 382 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. Wolfe Research lowered shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Citigroup lowered their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Barclays dropped their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Finally, Susquehanna reiterated a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.87.

Baker Hughes Stock Down 2.8 %

Shares of NASDAQ:BKR opened at $33.05 on Friday. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58. The company has a market capitalization of $33.08 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The company has a fifty day moving average of $31.36 and a 200-day moving average of $32.70.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. On average, equities analysts predict that Baker Hughes will post 2.07 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, February 12th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s payout ratio is 43.98%.

Insider Buying and Selling

In other news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate 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.