J. Safra Sarasin Holding AG increased its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 49.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,923,867 shares of the company's stock after acquiring an additional 633,823 shares during the quarter. Baker Hughes comprises approximately 1.5% of J. Safra Sarasin Holding AG's holdings, making the stock its 13th biggest position. J. Safra Sarasin Holding AG owned about 0.19% of Baker Hughes worth $84,554,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of Baker Hughes by 2,585.6% during the 1st quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company's stock valued at $169,511,000 after acquiring an additional 3,713,301 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in Baker Hughes by 2,527.6% during the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock valued at $136,158,000 after buying an additional 3,193,089 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Baker Hughes during the 4th quarter valued at $128,542,000. FMR LLC raised its holdings in Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after buying an additional 1,744,225 shares during the period. Finally, Northern Trust Corp raised its holdings in Baker Hughes by 18.4% during the 4th quarter. Northern Trust Corp now owns 10,000,756 shares of the company's stock valued at $410,231,000 after buying an additional 1,553,536 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.
Baker Hughes Stock Up 0.6%
BKR traded up $0.24 on Monday, hitting $43.75. The company had a trading volume of 6,387,568 shares, compared to its average volume of 9,011,210. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The stock has a market capitalization of $43.13 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 5.35 and a beta of 0.94. The stock has a fifty day moving average price of $39.71 and a 200-day moving average price of $40.94. 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 issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The company's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. Analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.
Baker Hughes Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is currently 30.07%.
Insiders Place Their Bets
In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value 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 approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Stifel Nicolaus decreased their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Industrial Alliance Securities set a $53.00 target price on Baker Hughes in a research report on Wednesday, July 30th. Morgan Stanley raised their price target on Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. TD Cowen raised their price target on Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Susquehanna raised their price target on Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and an average price target of $51.47.
Check Out Our Latest Report on Baker Hughes
Baker Hughes Company Profile
(
Free Report)
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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