Machina Capital S.A.S. Makes New Investment in Baker Hughes Company (NASDAQ:BKR)

Key Points

• Machina Capital S.A.S. made a new investment of $776,000 in Baker Hughes, acquiring 17,664 shares during the first quarter, according to their 13F filing with the SEC.
• Baker Hughes reported a quarterly earnings per share (EPS) of $0.63, surpassing analysts' expectations of $0.55, although revenue decreased by 3.2% compared to the same quarter last year.
• The firm announced a dividend of $0.23 per share, with an upcoming payment date of August 15th for investors of record on August 5th, representing an annualized yield of 2.00%.

Machina Capital S.A.S. bought a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 17,664 shares of the company's stock, valued at approximately $776,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Baker Hughes during the 4th quarter worth approximately $829,092,000. Neuberger Berman Group LLC increased its position in shares of 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 worth $136,158,000 after purchasing an additional 3,193,089 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Baker Hughes during the 4th quarter worth approximately $128,542,000. FMR LLC increased its position in shares of Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after purchasing an additional 1,744,225 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Baker Hughes by 18.4% during the 4th quarter. Northern Trust Corp now owns 10,000,756 shares of the company's stock worth $410,231,000 after purchasing an additional 1,553,536 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded up $0.22 during trading on Monday, reaching $46.27. 1,675,930 shares of the company traded hands, compared to its average volume of 8,021,500. The company's 50 day moving average is $38.89 and its two-hundred day moving average is $40.93. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $45.84 billion, a PE ratio of 15.11, a PEG ratio of 5.71 and a beta of 0.91.

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 analysts' consensus estimates of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the prior year, the firm posted $0.57 EPS. The firm's quarterly revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.99%. Baker Hughes's dividend payout ratio is currently 30.07%.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the company'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 sale, the chief executive officer directly owned 667,593 shares in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank Of Canada lowered their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Barclays lifted their target price on Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research note on Thursday. Evercore ISI reduced their target price on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus reduced their target price 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. Finally, TD Cowen lifted their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $49.50.

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.