Fisher Asset Management LLC Has $30.56 Million Stock Position in Baker Hughes Company $BKR

Fisher Asset Management LLC decreased its stake in Baker Hughes Company (NASDAQ:BKR) by 6.4% during the 4th quarter, HoldingsChannel reports. The fund owned 671,028 shares of the company’s stock after selling 45,851 shares during the period. Fisher Asset Management LLC’s holdings in Baker Hughes were worth $30,559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Baker Hughes by 0.5% in the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after acquiring an additional 598,159 shares during the last quarter. Capital World Investors grew its stake in shares of Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after acquiring an additional 3,153,709 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Baker Hughes by 7.1% in the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock worth $1,262,033,000 after acquiring an additional 1,728,016 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Baker Hughes by 3.8% in the third quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock worth $843,653,000 after acquiring an additional 638,640 shares during the last quarter. Finally, Capital International Investors acquired a new stake in shares of Baker Hughes in the third quarter worth $729,670,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Up 1.0%

Shares of NASDAQ BKR opened at $66.73 on Wednesday. The stock has a market cap of $66.20 billion, a PE ratio of 21.32, a PEG ratio of 2.35 and a beta of 0.97. The business has a fifty day moving average of $63.25 and a two-hundred day moving average of $56.51. Baker Hughes Company has a 52-week low of $36.36 and a 52-week high of $70.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. As a group, equities research analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the transaction, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Maria Georgia Magno sold 5,063 shares of Baker Hughes stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the transaction, the insider directly owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 550,250 shares of company stock valued at $32,988,331. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the topic of a number of recent research reports. Evercore reiterated an “outperform” rating and set a $76.00 price target on shares of Baker Hughes in a research note on Monday, April 27th. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Barclays reiterated an “equal weight” rating and set a $74.00 price target (up from $62.00) on shares of Baker Hughes in a research note on Thursday, May 7th. UBS Group lifted their price target on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, HSBC lifted their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.41.

Baker Hughes Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.