Fisher Asset Management LLC Decreases Holdings in Baker Hughes Company $BKR

Fisher Asset Management LLC trimmed its holdings in Baker Hughes Company (NASDAQ:BKR) by 9.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 683,408 shares of the company’s stock after selling 74,296 shares during the quarter. Fisher Asset Management LLC owned 0.07% of Baker Hughes worth $26,202,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BKR. Brandywine Global Investment Management LLC lifted its stake in shares of Baker Hughes by 8.2% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock valued at $24,850,000 after acquiring an additional 49,108 shares during the last quarter. Empower Advisory Group LLC increased its stake in Baker Hughes by 0.5% in the 1st quarter. Empower Advisory Group LLC now owns 2,120,493 shares of the company’s stock worth $93,196,000 after purchasing an additional 9,524 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Baker Hughes by 10.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837,276 shares of the company’s stock valued at $80,748,000 after purchasing an additional 180,809 shares during the last quarter. Cardano Risk Management B.V. boosted its stake in shares of Baker Hughes by 20.4% during the second quarter. Cardano Risk Management B.V. now owns 4,949,808 shares of the company’s stock valued at $189,776,000 after purchasing an additional 838,333 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Baker Hughes by 2.7% in the first quarter. Invesco Ltd. now owns 10,790,132 shares of the company’s stock worth $474,226,000 after purchasing an additional 283,454 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Activity

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at $588,600. This trade represents a 7.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president directly owned 40,520 shares in the company, valued at $2,026,000. The trade was a 38.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is owned by company insiders.

Baker Hughes Stock Performance

Baker Hughes stock opened at $49.48 on Wednesday. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. The stock’s 50 day simple moving average is $48.03 and its two-hundred day simple moving average is $43.91. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The stock has a market cap of $48.83 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.82 and a beta of 0.90.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The company had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. As a group, analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. Baker Hughes’s dividend payout ratio is currently 31.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BKR shares. Zephirin Group upped their price target on shares of Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. HSBC increased their target price on shares of Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Citigroup reduced their price target on Baker Hughes from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Evercore ISI set a $54.00 price target on Baker Hughes in a research report on Monday, October 27th. Finally, Cowen reiterated a “buy” rating on shares of Baker Hughes in a research report on Monday, October 27th. Twenty-three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.42.

About Baker Hughes

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.