Advisors Asset Management Inc. Purchases 13,231 Shares of Baker Hughes (NASDAQ:BKR)

Advisors Asset Management Inc. boosted its position in shares of Baker Hughes (NASDAQ:BKR) by 34.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,356 shares of the company’s stock after purchasing an additional 13,231 shares during the period. Advisors Asset Management Inc.’s holdings in Baker Hughes were worth $1,720,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Baker Hughes during the fourth quarter worth approximately $551,555,000. Dimensional Fund Advisors LP increased its holdings in Baker Hughes by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock valued at $296,319,000 after purchasing an additional 1,395,083 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Baker Hughes by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock valued at $227,579,000 after purchasing an additional 204,839 shares in the last quarter. Clearbridge Investments LLC raised its position in Baker Hughes by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after purchasing an additional 612,715 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Baker Hughes by 47.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after purchasing an additional 1,822,487 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their price target on Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. The Goldman Sachs Group raised their target price on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Friday. Susquehanna restated a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. Finally, Jefferies Financial Group boosted their target price on Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.92.

Baker Hughes Stock Up 5.8 %

NASDAQ:BKR opened at $37.65 on Friday. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $37.78. The company has a market cap of $37.57 billion, a PE ratio of 21.03, a PEG ratio of 0.65 and a beta of 1.41. The stock has a 50-day simple moving average of $33.64 and a 200 day simple moving average of $32.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a return on equity of 12.49% and a net margin of 7.37%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. On average, sell-side analysts expect that Baker Hughes will post 2.11 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be given a $0.21 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.23%. Baker Hughes’s payout ratio is presently 46.93%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction dated 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 completion of the sale, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

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.