Baker Hughes (NASDAQ:BKR) Shares Sold by Toroso Investments LLC

Toroso Investments LLC lessened its position in shares of Baker Hughes (NASDAQ:BKR) by 24.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,669 shares of the company’s stock after selling 13,343 shares during the period. Toroso Investments LLC’s holdings in Baker Hughes were worth $1,203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Baker Hughes by 3.4% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,652 shares of the company’s stock worth $315,000 after buying an additional 350 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Baker Hughes by 0.8% during the 1st quarter. Quantinno Capital Management LP now owns 46,327 shares of the company’s stock worth $1,337,000 after buying an additional 367 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Baker Hughes by 1.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 34,111 shares of the company’s stock worth $984,000 after buying an additional 373 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Baker Hughes by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 78,036 shares of the company’s stock worth $2,252,000 after buying an additional 395 shares during the last quarter. Finally, Veritable L.P. lifted its position in shares of Baker Hughes by 2.7% during the 1st quarter. Veritable L.P. now owns 15,150 shares of the company’s stock worth $437,000 after buying an additional 397 shares during the last quarter. Institutional investors and hedge funds own 92.22% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the subject of several research reports. HSBC upped their price target on shares of Baker Hughes from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Morgan Stanley reiterated an “overweight” rating and issued a $37.00 price target on shares of Baker Hughes in a research report on Friday, July 21st. TheStreet upgraded shares of Baker Hughes from a “c+” rating to a “b-” rating in a research report on Tuesday, July 18th. Wells Fargo & Company upped their price target on shares of Baker Hughes from $32.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, July 20th. Finally, Susquehanna upped their price target on shares of Baker Hughes from $38.00 to $42.00 and gave the company a “positive” rating in a research report on Thursday, July 20th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.44.

Insider Buying and Selling at Baker Hughes

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

Baker Hughes Stock Performance

Shares of BKR opened at $36.16 on Monday. The company has a 50-day simple moving average of $35.61 and a 200-day simple moving average of $31.46. The company has a quick ratio of 0.88, a current ratio of 1.28 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $36.51 billion, a PE ratio of 32.00 and a beta of 1.52. Baker Hughes has a 52-week low of $20.42 and a 52-week high of $37.58.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Wednesday, July 19th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the firm posted $0.11 EPS. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. Equities 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 announced a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Tuesday, August 8th were issued a dividend of $0.20 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Monday, August 7th. Baker Hughes’s dividend payout ratio (DPR) is 70.80%.

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.