IPG Investment Advisors LLC Makes New Investment in Baker Hughes Company (NASDAQ:BKR)

Key Points

• IPG Investment Advisors LLC made a new investment of approximately $1.36 million in Baker Hughes Company (NASDAQ:BKR), acquiring 30,879 shares in the first quarter.
• CEO Lorenzo Simonelli sold over 526,000 shares of Baker Hughes stock, resulting in a 44.10% decrease in his ownership.
• Baker Hughes recently declared a quarterly dividend of $0.23 per share, with a dividend yield of 2.1%, set to be paid on August 15th.

IPG Investment Advisors LLC acquired a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 30,879 shares of the company's stock, valued at approximately $1,357,000.

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

Baker Hughes Price Performance

NASDAQ BKR traded up $0.07 during mid-day trading on Tuesday, hitting $43.82. The stock had a trading volume of 4,937,116 shares, compared to its average volume of 9,063,769. Baker Hughes Company has a 52-week low of $32.25 and a 52-week high of $49.40. The company has a market cap of $43.20 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 5.38 and a beta of 0.94. The company has a 50 day simple moving average of $39.98 and a 200 day simple moving average of $40.94. 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 released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The firm 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 business posted $0.57 EPS. Baker Hughes's quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.1%. Baker Hughes's dividend payout ratio (DPR) is presently 30.07%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Industrial Alliance Securities set a $53.00 target price on Baker Hughes in a research report on Wednesday, July 30th. Stifel Nicolaus reduced their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. BMO Capital Markets reaffirmed an "outperform" rating and set a $53.00 price objective (up from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. UBS Group reaffirmed a "neutral" rating and set a $46.00 price objective (up from $43.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada reduced their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.47.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the transaction, the chief executive officer owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company's stock.

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.