Retirement Planning Group LLC Purchases Shares of 7,357 Baker Hughes (NASDAQ:BKR)

Retirement Planning Group LLC purchased a new stake in shares of Baker Hughes (NASDAQ:BKR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,357 shares of the company’s stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GLOBALT Investments LLC GA bought a new position in Baker Hughes during the fourth quarter valued at about $385,000. V Square Quantitative Management LLC grew its stake in shares of Baker Hughes by 33.5% in the 4th quarter. V Square Quantitative Management LLC now owns 18,017 shares of the company’s stock worth $616,000 after purchasing an additional 4,517 shares during the last quarter. Centaurus Financial Inc. bought a new stake in shares of Baker Hughes in the 4th quarter worth approximately $333,000. Fisher Asset Management LLC lifted its stake in Baker Hughes by 3.2% during the fourth quarter. Fisher Asset Management LLC now owns 507,379 shares of the company’s stock valued at $17,342,000 after purchasing an additional 15,904 shares during the last quarter. Finally, Wahed Invest LLC boosted its holdings in Baker Hughes by 7.2% during the fourth quarter. Wahed Invest LLC now owns 17,298 shares of the company’s stock worth $591,000 after buying an additional 1,155 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $37.70 on Monday. The firm has a market cap of $37.62 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 0.61 and a beta of 1.38. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $35.30 and a 200 day simple moving average of $34.19.

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

Baker Hughes Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BKR. Susquehanna upped their price target on Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a report on Monday, July 29th. UBS Group cut their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets increased their price target on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday. Morgan Stanley lifted their price target on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group raised their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.65.

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.