PNC Financial Services Group Inc. lifted its position in Baker Hughes (NASDAQ:BKR – Free Report) by 0.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 107,946 shares of the company’s stock after acquiring an additional 525 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Baker Hughes were worth $3,690,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new position in Baker Hughes in the 4th quarter worth about $33,000. Montag A & Associates Inc. lifted its stake in Baker Hughes by 100.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. Raleigh Capital Management Inc. grew its position in Baker Hughes by 7,226.7% in the third quarter. Raleigh Capital Management Inc. now owns 2,198 shares of the company’s stock worth $78,000 after acquiring an additional 2,168 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Baker Hughes by 15.5% during the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after purchasing an additional 327 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Baker Hughes during the 4th quarter valued at $95,000. Institutional investors and hedge funds own 92.06% of the company’s stock.
Insider Transactions at Baker Hughes
In related news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.
Baker Hughes Stock Up 0.3 %
BKR stock opened at $32.14 on Thursday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The company has a market cap of $32.08 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 0.55 and a beta of 1.43. The business’s 50-day simple moving average is $32.40 and its 200 day simple moving average is $31.96.
Baker Hughes (NASDAQ:BKR – Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. Baker Hughes’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. On average, research analysts anticipate that Baker Hughes will post 2.09 earnings per share for the current year.
Baker Hughes Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s payout ratio is 46.93%.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Wednesday, April 24th. The Goldman Sachs Group raised their price objective on Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Susquehanna reaffirmed a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. Morgan Stanley increased their price target on Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Finally, UBS Group upped their price objective on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.13.
View Our Latest Stock Analysis on BKR
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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Source: defenseworld.net
