ASR Vermogensbeheer N.V. Makes New $17.20 Million Investment in Baker Hughes Company (NASDAQ:BKR)

Key Points

• ASR Vermogensbeheer N.V. invested approximately $17.20 million in Baker Hughes Company during the 1st quarter, acquiring 391,286 shares of the stock.
• Baker Hughes reported earnings of $0.63 per share for the last quarter, surpassing consensus estimates of $0.55, with revenue of $6.91 billion exceeding analyst expectations as well.
• The company announced a quarterly dividend of $0.23 per share, which represents a yield of 2.1%, set to be paid to shareholders on August 15th.

ASR Vermogensbeheer N.V. purchased a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 391,286 shares of the company's stock, valued at approximately $17,197,000.

Several other institutional investors have also added to or reduced their stakes in the business. Prosperity Consulting Group LLC raised its position in Baker Hughes by 2.7% in the first quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company's stock worth $463,000 after acquiring an additional 278 shares during the period. Greenleaf Trust raised its position in shares of Baker Hughes by 2.2% during the 1st quarter. Greenleaf Trust now owns 13,852 shares of the company's stock valued at $609,000 after purchasing an additional 293 shares during the period. Commerce Bank raised its position in shares of Baker Hughes by 1.0% during the 4th quarter. Commerce Bank now owns 31,075 shares of the company's stock valued at $1,275,000 after purchasing an additional 300 shares during the period. TCTC Holdings LLC raised its position in shares of Baker Hughes by 7.7% during the 1st quarter. TCTC Holdings LLC now owns 4,219 shares of the company's stock valued at $185,000 after purchasing an additional 301 shares during the period. Finally, Grove Bank & Trust raised its position in shares of Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after purchasing an additional 320 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the sale, the chief executive officer owned 667,593 shares in the company, valued at $29,654,481.06. This trade represents a 44.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BKR shares. Morgan Stanley raised their price objective on shares of Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Barclays raised their price objective on shares of Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. TD Securities decreased their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. UBS Group restated a "neutral" rating and set a $46.00 price objective (up from $43.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada decreased their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of "Moderate Buy" and an average target price of $51.47.

Baker Hughes Price Performance

Baker Hughes stock opened at $43.82 on Wednesday. The firm has a 50-day moving average price of $39.98 and a 200-day moving average price of $40.94. The firm has a market capitalization of $43.20 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 5.38 and a beta of 0.94. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 12-month low of $32.25 and a 12-month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.08. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The business's revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business earned $0.57 EPS. As a group, equities research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is 30.07%.

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.

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