Perpetual Ltd Lowers Holdings in Baker Hughes (NASDAQ:BKR)

Perpetual Ltd reduced its position in shares of Baker Hughes (NASDAQ:BKR) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,500 shares of the company’s stock after selling 1,498 shares during the quarter. Perpetual Ltd’s holdings in Baker Hughes were worth $1,862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new position in shares of Baker Hughes during the first quarter valued at $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Baker Hughes in the 1st quarter valued at about $34,000. Alta Advisers Ltd purchased a new stake in shares of Baker Hughes in the 2nd quarter worth approximately $42,000. Headlands Technologies LLC purchased a new position in Baker Hughes during the second quarter valued at approximately $48,000. Finally, UMB Bank n.a. raised its stake in Baker Hughes by 281.2% in the first quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock worth $53,000 after buying an additional 1,167 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Price Performance

Baker Hughes stock opened at $37.61 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The company’s fifty day moving average price is $35.26 and its 200 day moving average price is $34.11. The stock has a market capitalization of $37.53 billion, a P/E ratio of 21.01, a P/E/G ratio of 0.59 and a beta of 1.38. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, equities research analysts anticipate that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.23%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s payout ratio is currently 46.93%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BKR. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Friday, July 26th. Evercore ISI raised their price objective on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. The Goldman Sachs Group upped their target price on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets boosted their price target on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $43.65.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Baker Hughes 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.