Raiffeisen Bank International AG Has $9.29 Million Holdings in Baker Hughes Company (NASDAQ:BKR)

Key Points

• Raiffeisen Bank International AG increased its stake in Baker Hughes by 9.3% during the first quarter, acquiring an additional 18,264 shares for a total of 215,695 shares valued at approximately $9.29 million.
• Baker Hughes CEO Lorenzo Simonelli sold 526,568 shares at an average price of $44.42, resulting in a significant decrease in his ownership by 44.10%.
• Baker Hughes announced a quarterly dividend of $0.23 per share, with an ex-dividend date of August 5th, reflecting a yield of 2.1% and a payout ratio of 30.07%.

Raiffeisen Bank International AG grew its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 9.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,695 shares of the company's stock after purchasing an additional 18,264 shares during the quarter. Raiffeisen Bank International AG's holdings in Baker Hughes were worth $9,293,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Capital Research Global Investors raised its position in Baker Hughes by 0.6% in the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock valued at $1,135,744,000 after purchasing an additional 177,232 shares during the period. FMR LLC raised its position in Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after purchasing an additional 1,744,225 shares during the period. Dimensional Fund Advisors LP raised its position in Baker Hughes by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock valued at $473,880,000 after purchasing an additional 874,297 shares during the period. Northern Trust Corp increased its position in shares of Baker Hughes by 18.4% during the fourth quarter. Northern Trust Corp now owns 10,000,756 shares of the company's stock worth $410,231,000 after acquiring an additional 1,553,536 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Baker Hughes by 10.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,109,441 shares of the company's stock worth $273,703,000 after acquiring an additional 568,365 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group reaffirmed a "neutral" rating and set a $46.00 price objective (up previously from $43.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Stifel Nicolaus lowered their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Barclays boosted their target price on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Industrial Alliance Securities set a $53.00 price objective on shares of Baker Hughes in a research note on Wednesday, July 30th. Finally, Citigroup reduced their target price on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of "Moderate Buy" and an average price target of $51.47.

Baker Hughes Stock Performance

BKR traded up $0.07 on Tuesday, hitting $43.82. 4,937,116 shares of the company's stock were exchanged, compared to its average volume of 9,063,769. The firm has a market cap of $43.20 billion, a PE ratio of 14.32, a P/E/G ratio of 5.38 and a beta of 0.94. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. The stock has a fifty day moving average of $39.98 and a two-hundred day moving average of $40.94. 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 posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $6.64 billion. During the same period last year, the firm posted $0.57 earnings per share. The business's revenue was down 3.2% on a year-over-year basis. On average, research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company 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. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 5th. Baker Hughes's dividend payout ratio is 30.07%.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.27% of the company's stock.

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.