Baker Hughes (NASDAQ:BKR) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its position in shares of Baker Hughes (NASDAQ:BKR) by 15.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 527,145 shares of the company’s stock after purchasing an additional 70,257 shares during the period. Wedge Capital Management L L P NC owned 0.05% of Baker Hughes worth $18,018,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Miller Howard Investments Inc. NY boosted its stake in shares of Baker Hughes by 0.5% in the third quarter. Miller Howard Investments Inc. NY now owns 55,658 shares of the company’s stock valued at $1,966,000 after purchasing an additional 303 shares during the period. Blue Trust Inc. boosted its stake in shares of Baker Hughes by 15.5% in the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock valued at $85,000 after purchasing an additional 327 shares during the period. Rational Advisors LLC boosted its stake 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 purchasing an additional 382 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Baker Hughes by 6.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock valued at $219,000 after purchasing an additional 398 shares during the period. Finally, Huntington National Bank boosted its stake in shares of Baker Hughes by 8.2% in the third quarter. Huntington National Bank now owns 5,501 shares of the company’s stock valued at $194,000 after purchasing an additional 416 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction 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 directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction 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 directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now 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 Stock Performance

Shares of Baker Hughes stock opened at $32.54 on Tuesday. The firm’s fifty day simple moving average is $31.74 and its 200-day simple moving average is $32.56. The stock has a market capitalization of $32.57 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.62 and a beta of 1.42. Baker Hughes has a 12 month low of $26.81 and a 12 month high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86.

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

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.58%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, February 12th. Baker Hughes’s payout ratio is presently 43.98%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of recent research reports. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a research note on Thursday, February 1st. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Citigroup decreased their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Finally, TD Cowen lifted their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.07.

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.