New Age Alpha Advisors LLC Sells 28,442 Shares of Baker Hughes Company (NASDAQ:BKR)

New Age Alpha Advisors LLC lowered its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 30.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 66,398 shares of the company's stock after selling 28,442 shares during the period. New Age Alpha Advisors LLC's holdings in Baker Hughes were worth $2,918,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BKR. Wellington Management Group LLP lifted its stake in shares of Baker Hughes by 11.6% in the 4th quarter. Wellington Management Group LLP now owns 455,714 shares of the company's stock worth $18,693,000 after purchasing an additional 47,404 shares during the period. Envestnet Asset Management Inc. raised its position in Baker Hughes by 31.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 604,433 shares of the company's stock worth $24,794,000 after acquiring an additional 143,797 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Baker Hughes by 11.7% during the 4th quarter. Quadrant Capital Group LLC now owns 6,766 shares of the company's stock worth $278,000 after acquiring an additional 709 shares during the last quarter. FMR LLC grew 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 valued at $644,098,000 after acquiring an additional 1,744,225 shares during the period. Finally, Cerity Partners LLC increased its stake in shares of Baker Hughes by 17.3% in the 4th quarter. Cerity Partners LLC now owns 155,580 shares of the company's stock worth $6,177,000 after purchasing an additional 22,928 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Industrial Alliance Securities set a $53.00 target price on Baker Hughes in a research report on Wednesday, July 30th. The Goldman Sachs Group decreased their price objective on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. Evercore ISI boosted their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Piper Sandler reduced their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Royal Bank Of Canada dropped their price target on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Three 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.47.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $43.43 on Thursday. The firm has a market cap of $42.82 billion, a PE ratio of 14.19, a PEG ratio of 5.39 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 has a 50 day moving average of $40.12 and a 200 day moving average of $40.96. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Baker Hughes's revenue was down 3.2% on a year-over-year basis. On average, research analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be given a $0.23 dividend. The ex-dividend date 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 currently 30.07%.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.27% of the company's stock.

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.

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