Nikko Asset Management Americas Inc. Buys 13,501 Shares of Baker Hughes (NASDAQ:BKR)

Nikko Asset Management Americas Inc. lifted its stake in shares of Baker Hughes (NASDAQ:BKR) by 53.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 38,747 shares of the company’s stock after acquiring an additional 13,501 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Baker Hughes were worth $1,297,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Spire Wealth Management lifted its stake in Baker Hughes by 256.7% in the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after purchasing an additional 552 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Baker Hughes during the first quarter valued at about $27,000. Bruce G. Allen Investments LLC bought a new position in shares of Baker Hughes during the fourth quarter valued at about $33,000. Montag A & Associates Inc. raised its stake in shares of Baker Hughes by 100.0% during the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Baker Hughes by 281.2% during the first quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after acquiring an additional 1,167 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 55,980 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the sale, the executive vice president now owns 92,035 shares in the company, valued at $2,945,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Down 2.2 %

Shares of NASDAQ BKR traded down $0.74 during midday trading on Tuesday, hitting $33.43. The stock had a trading volume of 4,475,243 shares, compared to its average volume of 7,730,986. The business’s 50 day moving average is $32.80 and its 200-day moving average is $32.06. The company has a market cap of $33.36 billion, a P/E ratio of 19.09, a PEG ratio of 0.59 and a beta of 1.41. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

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. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, analysts predict that Baker Hughes will post 2.09 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a $0.21 dividend. The ex-dividend date was Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.51%. Baker Hughes’s dividend payout ratio is presently 46.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BKR shares. The Goldman Sachs Group upped their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Morgan Stanley boosted their price target on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Jefferies Financial Group boosted their price target on shares of Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, June 28th. UBS Group boosted their price target on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Finally, Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.27.

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.