Atria Wealth Solutions Inc. Makes New $508,000 Investment in Baker Hughes Company $BKR

Atria Wealth Solutions Inc. bought a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,568 shares of the company's stock, valued at approximately $508,000.

Several other institutional investors and hedge funds have also modified their holdings of BKR. Envestnet Asset Management Inc. lifted its stake in Baker Hughes by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock valued at $27,314,000 after buying an additional 17,035 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Baker Hughes by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock valued at $1,075,000 after purchasing an additional 8,351 shares in the last quarter. Stack Financial Management Inc bought a new stake in Baker Hughes during the 1st quarter worth about $12,890,000. Principal Financial Group Inc. boosted its stake in shares of Baker Hughes by 7.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company's stock worth $54,462,000 after buying an additional 82,706 shares during the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of Baker Hughes in the first quarter valued at about $360,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, 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 this link. Company insiders own 0.27% of the company's stock.

Baker Hughes Trading Up 0.7%

Shares of BKR stock traded up $0.31 during trading hours on Monday, hitting $43.11. 820,907 shares of the company's stock traded hands, compared to its average volume of 7,896,738. The stock has a market cap of $42.51 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 1.95 and a beta of 0.94. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. The stock's 50 day simple moving average is $40.90 and its 200 day simple moving average is $40.80. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same period last year, the company earned $0.57 earnings per share. The firm's revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.1%. Baker Hughes's payout ratio is 30.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BKR shares. Industrial Alliance Securities set a $53.00 price target on Baker Hughes in a research note on Wednesday, July 30th. Jefferies Financial Group set a $58.00 target price on shares of Baker Hughes in a report on Wednesday, July 30th. BMO Capital Markets reissued an "outperform" rating and issued a $53.00 price target (up from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. TD Securities decreased their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada dropped their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Three equities 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, the company currently has an average rating of "Moderate Buy" and an average price target of $51.47.

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.