Russell Investments Group Ltd. Increases Stake in Baker Hughes (NASDAQ:BKR)

Russell Investments Group Ltd. raised its position in shares of Baker Hughes (NASDAQ:BKR) by 101.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,383,918 shares of the company’s stock after buying an additional 1,200,407 shares during the period. Russell Investments Group Ltd. owned about 0.24% of Baker Hughes worth $81,484,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new stake in Baker Hughes during the 4th quarter valued at $4,813,000. Nordea Investment Management AB boosted its position in Baker Hughes by 731.1% during the 4th quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock valued at $49,732,000 after buying an additional 1,283,296 shares during the period. Wellington Management Group LLP boosted its position in Baker Hughes by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock valued at $31,983,000 after buying an additional 97,108 shares during the period. Wedge Capital Management L L P NC boosted its position in Baker Hughes by 15.4% during the 4th quarter. Wedge Capital Management L L P NC now owns 527,145 shares of the company’s stock valued at $18,018,000 after buying an additional 70,257 shares during the period. Finally, Artemis Investment Management LLP boosted its position in Baker Hughes by 8.7% during the 4th quarter. Artemis Investment Management LLP now owns 3,111,853 shares of the company’s stock valued at $106,365,000 after buying an additional 248,125 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 1.4 %

Shares of Baker Hughes stock traded down $0.46 during trading on Friday, hitting $32.84. The company’s stock had a trading volume of 8,318,500 shares, compared to its average volume of 5,927,995. The company has a market capitalization of $32.87 billion, a PE ratio of 18.35, a P/E/G ratio of 0.62 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. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The company has a fifty day simple moving average of $32.05 and a two-hundred day simple moving average of $32.53.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. Baker Hughes’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. Equities research analysts predict that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.56%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BKR shares. Barclays dropped their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. UBS Group upped their price objective on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a report on Wednesday. Morgan Stanley upped their price objective on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Finally, Susquehanna restated a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.94.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the firm’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 completion of the sale, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were 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 of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the firm’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 sale, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

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.