Mutual Advisors LLC Makes New $475,000 Investment in Baker Hughes Company $BKR

Key Points

• Mutual Advisors LLC has made a new investment of approximately $475,000 in Baker Hughes Company, acquiring 12,393 shares in the second quarter.
• Baker Hughes has received multiple analyst upgrades, with Morgan Stanley raising the price target from $45.00 to $55.00 and Citigroup increasing it from $54.00 to $56.00.
• The company recently declared a quarterly dividend of $0.23 per share, representing a 2.0% yield based on an annual payout of $0.92.

Mutual Advisors LLC bought a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 12,393 shares of the company's stock, valued at approximately $475,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in shares of Baker Hughes in the first quarter valued at about $28,000. Golden State Wealth Management LLC increased its stake in shares of Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after buying an additional 604 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of Baker Hughes in the first quarter valued at about $30,000. Harbour Investments Inc. increased its stake in shares of Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company's stock valued at $33,000 after buying an additional 326 shares during the period. Finally, Spire Wealth Management increased its stake in shares of Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after buying an additional 465 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BKR shares. Morgan Stanley increased 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. Jefferies Financial Group set a $58.00 target price on Baker Hughes in a research report on Wednesday, July 30th. Seaport Res Ptn lowered Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Citigroup upped their target price on Baker Hughes from $54.00 to $56.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Finally, Zephirin Group upped their target price on Baker Hughes from $37.00 to $40.00 and gave the company a "hold" rating in a research report on Thursday, October 2nd. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and an average price target of $52.91.

Insiders Place Their Bets

In other news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the sale, the executive vice president directly owned 40,520 shares of the company's stock, valued at $2,026,000. This represents a 38.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the sale, the chief accounting officer directly owned 11,772 shares of the company's stock, valued at approximately $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 553,068 shares of company stock worth $24,712,651. Corporate insiders own 0.27% of the company's stock.

Baker Hughes Stock Up 1.2%

Shares of NASDAQ:BKR opened at $45.18 on Monday. The business's 50 day simple moving average is $46.08 and its two-hundred day simple moving average is $41.36. The firm has a market cap of $44.54 billion, a P/E ratio of 14.76, a PEG ratio of 1.95 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.92.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $5.09 billion for the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. As a group, research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a $0.23 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.0%. Baker Hughes's dividend payout ratio is presently 30.07%.

Baker Hughes Company 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.

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