Baker Hughes (NASDAQ:BKR) Stock Holdings Lowered by CENTRAL TRUST Co

CENTRAL TRUST Co decreased its holdings in Baker Hughes (NASDAQ:BKR) by 20.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,822 shares of the company’s stock after selling 731 shares during the quarter. CENTRAL TRUST Co’s holdings in Baker Hughes were worth $102,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after buying an additional 4,207,973 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares during the period. Legal & General Group Plc boosted its stake in Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares during the period. American Century Companies Inc. increased its holdings in shares of Baker Hughes by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after purchasing an additional 248,122 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of Baker Hughes by 10.2% during the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after purchasing an additional 612,715 shares during the period. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 2.0 %

Shares of Baker Hughes stock opened at $37.52 on Monday. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The stock has a market capitalization of $37.44 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company has a 50-day simple moving average of $35.70 and a 200 day simple moving average of $34.39. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. Research analysts expect that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the transaction, the chief executive officer now owns 616,339 shares in the company, valued at $23,759,868.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on BKR. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price objective on shares of Baker Hughes in a report on Thursday. Jefferies Financial Group raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Citigroup decreased their target price on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Finally, Piper Sandler cut their price target on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $44.12.

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.