Mitsubishi UFJ Trust & Banking Corp Has $24.89 Million Stock Holdings in Baker Hughes (NASDAQ:BKR)

Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Baker Hughes (NASDAQ:BKR) by 31.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 743,238 shares of the company’s stock after buying an additional 178,881 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of Baker Hughes worth $24,885,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Spire Wealth Management increased its holdings in Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after purchasing an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Baker Hughes during the first quarter worth about $27,000. Montag A & Associates Inc. increased its stake in shares of Baker Hughes by 100.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after buying an additional 500 shares during the period. UMB Bank n.a. increased its stake in shares of Baker Hughes by 281.2% in the first quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after buying an additional 1,167 shares during the period. Finally, Rise Advisors LLC raised its holdings in Baker Hughes by 46.9% in the 1st quarter. Rise Advisors LLC now owns 1,667 shares of the company’s stock valued at $56,000 after buying an additional 532 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Trading Up 0.1 %

Shares of Baker Hughes stock traded up $0.04 on Friday, reaching $35.93. 5,022,919 shares of the company’s stock were exchanged, compared to its average volume of 5,744,730. The firm’s 50-day moving average is $33.34 and its two-hundred day moving average is $32.14. The company has a market capitalization of $35.86 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 0.62 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $37.58.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. Baker Hughes’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts predict that Baker Hughes will post 2.09 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Piper Sandler decreased their price objective on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, July 15th. UBS Group lifted their target price on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group raised their price objective on Baker Hughes from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $41.07.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction 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 $2,945,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.