Los Angeles Capital Management LLC Reduces Stock Holdings in Baker Hughes Company $BKR

Los Angeles Capital Management LLC lessened its position in shares of Baker Hughes Company (NASDAQ:BKR) by 54.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 527,781 shares of the company’s stock after selling 631,074 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.05% of Baker Hughes worth $20,235,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BKR. N.E.W. Advisory Services LLC purchased a new position in Baker Hughes during the 1st quarter valued at about $30,000. Harbour Investments Inc. grew its position in shares of Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after purchasing an additional 326 shares during the last quarter. LRI Investments LLC grew its position in shares of Baker Hughes by 59.3% in the second quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the last quarter. Hilltop National Bank purchased a new position in shares of Baker Hughes during the 2nd quarter worth approximately $43,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Baker Hughes during the 1st quarter worth approximately $45,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays upped their target price on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Susquehanna increased their price objective on Baker Hughes from $52.00 to $56.00 and gave the company a “positive” rating in a research note on Thursday, October 2nd. Citigroup dropped their price objective on Baker Hughes from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, October 27th. UBS Group boosted their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Finally, Evercore ISI set a $54.00 price target on shares of Baker Hughes in a research note on Monday, October 27th. Twenty-three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $53.29.

Insiders Place Their Bets

In other Baker Hughes news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive vice president owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. The trade was a 38.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the sale, the chief accounting officer owned 11,772 shares of the company’s stock, valued at $588,600. This represents a 7.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.27% of the stock is currently owned by company insiders.

Baker Hughes Price Performance

BKR opened at $47.87 on Friday. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $50.92. The company’s 50 day simple moving average is $47.23 and its 200 day simple moving average is $42.42. The stock has a market capitalization of $47.24 billion, a PE ratio of 16.51, a P/E/G ratio of 2.06 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The firm had revenue of $5.09 billion during the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. As a group, sell-side analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Tuesday, November 4th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

Baker Hughes 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.