Y Intercept Hong Kong Ltd Sells 23,602 Shares of Baker Hughes Company (NASDAQ:BKR)

Y Intercept Hong Kong Ltd cut its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 44.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,414 shares of the company's stock after selling 23,602 shares during the period. Y Intercept Hong Kong Ltd's holdings in Baker Hughes were worth $1,293,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Envestnet Asset Management Inc. grew its stake in Baker Hughes by 2.8% during the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock worth $27,314,000 after buying an additional 17,035 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Baker Hughes by 51.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock worth $1,075,000 after buying an additional 8,351 shares in the last quarter. Geode Capital Management LLC grew its stake in Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after buying an additional 465,832 shares in the last quarter. Stack Financial Management Inc acquired a new stake in Baker Hughes during the first quarter worth about $12,890,000. Finally, Principal Financial Group Inc. grew its stake in Baker Hughes by 7.2% during the first quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company's stock worth $54,462,000 after buying an additional 82,706 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BKR has been the topic of a number of analyst reports. TD Securities reduced their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group reiterated a "buy" rating on shares of Baker Hughes in a research note on Sunday. Stifel Nicolaus dropped their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Barclays increased their target price on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Royal Bank Of Canada dropped their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of "Moderate Buy" and an average target price of $49.50.

Baker Hughes Trading Up 0.4%

Baker Hughes stock traded up $0.19 during mid-day trading on Monday, hitting $46.24. 1,486,650 shares of the stock were exchanged, compared to its average volume of 8,018,902. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. The firm's fifty day simple moving average is $38.89 and its two-hundred day simple moving average is $40.93. The stock has a market capitalization of $45.81 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 5.71 and a beta of 0.91.

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, topping 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 firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter last year, the business earned $0.57 EPS. The company's revenue was down 3.2% compared to the same quarter last year. Analysts forecast that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company 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 dividend of $0.23 per share. The ex-dividend date is Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 1.99%. Baker Hughes's payout ratio is 30.07%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the transaction, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.