Invesco Ltd. Grows Stake in Baker Hughes Company $BKR

Invesco Ltd. increased its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 18.9% in the 2nd quarter, Holdings Channel reports. The firm owned 12,834,534 shares of the company’s stock after purchasing an additional 2,044,402 shares during the period. Invesco Ltd.’s holdings in Baker Hughes were worth $492,076,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Baker Hughes in the second quarter valued at approximately $862,722,000. Nuveen LLC purchased a new position in Baker Hughes in the 1st quarter valued at $404,385,000. American Century Companies Inc. boosted its stake in Baker Hughes by 38.0% during the 2nd quarter. American Century Companies Inc. now owns 7,602,803 shares of the company’s stock worth $291,492,000 after purchasing an additional 2,094,079 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in Baker Hughes during the 1st quarter worth $70,685,000. Finally, Strs Ohio purchased a new stake in shares of Baker Hughes during the first quarter worth $60,490,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

BKR has been the topic of several research reports. Bank of America raised their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Barclays increased their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Citigroup dropped their price target 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a report on Monday. Finally, Melius Research started coverage on Baker Hughes in a research report on Wednesday, August 20th. They set a “buy” rating and a $60.00 price objective on the stock. Twenty-three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.42.

Baker Hughes Price Performance

NASDAQ:BKR opened at $50.61 on Friday. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $51.12. The stock’s fifty day moving average is $48.06 and its two-hundred day moving average is $44.01. The company has a market capitalization of $49.94 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.83 and a beta of 0.90. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

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

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s dividend payout ratio is currently 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.