Peapack Gladstone Financial Corp Lowers Stock Position in Baker Hughes (NASDAQ:BKR)

Peapack Gladstone Financial Corp lessened its stake in shares of Baker Hughes (NASDAQ:BKRFree Report) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,446 shares of the company’s stock after selling 719 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Baker Hughes were worth $801,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in Baker Hughes by 15.5% during the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after buying an additional 327 shares during the period. Rational Advisors LLC lifted its position in shares of Baker Hughes by 44.0% during the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after purchasing an additional 382 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Baker Hughes by 6.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock worth $219,000 after purchasing an additional 398 shares in the last quarter. Huntington National Bank lifted its position in shares of Baker Hughes by 8.2% during the third quarter. Huntington National Bank now owns 5,501 shares of the company’s stock worth $194,000 after purchasing an additional 416 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Baker Hughes by 2.8% during the third quarter. Blair William & Co. IL now owns 15,086 shares of the company’s stock worth $533,000 after purchasing an additional 416 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 0.4 %

Shares of NASDAQ:BKR opened at $31.75 on Thursday. The company has a market capitalization of $31.69 billion, a PE ratio of 17.74, a P/E/G ratio of 0.54 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $37.58. The firm has a 50 day simple moving average of $32.78 and a 200-day simple moving average of $32.08.

Baker Hughes (NASDAQ:BKRGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. On average, equities analysts predict that Baker Hughes will post 2.08 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were given a dividend of $0.21 per share. The ex-dividend date was Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.65%. Baker Hughes’s dividend payout ratio is presently 46.93%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BKR shares. Morgan Stanley increased their price target on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Wednesday, April 24th. The Goldman Sachs Group increased their price target on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. UBS Group increased their price target on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.94.

Read Our Latest Stock Report on BKR

Insider Activity

In other news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Company Profile

(Free Report)

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.

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

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