Massachusetts Wealth Management lowered its position in shares of Baker Hughes (NASDAQ:BKR – Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,925 shares of the company’s stock after selling 775 shares during the period. Massachusetts Wealth Management’s holdings in Baker Hughes were worth $323,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new stake in Baker Hughes in the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Baker Hughes during the 1st quarter worth $34,000. Alta Advisers Ltd purchased a new position in Baker Hughes in the second quarter worth $42,000. Headlands Technologies LLC bought a new position in Baker Hughes in the second quarter valued at $48,000. Finally, Quarry LP raised its position in Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after purchasing an additional 714 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Baker Hughes
In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Analysis on Baker Hughes
Baker Hughes Trading Up 1.9 %
NASDAQ:BKR traded up $0.71 during trading hours on Friday, hitting $37.49. The company had a trading volume of 951,589 shares, compared to its average volume of 7,195,887. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The stock has a 50-day moving average price of $35.64 and a 200 day moving average price of $34.36. The company has a market capitalization of $37.41 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05.
Baker Hughes (NASDAQ:BKR – Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts predict that Baker Hughes will post 2.25 EPS for the current fiscal year.
Baker Hughes Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.24%. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.
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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