Baker Hughes Company $BKR Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama grew its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 298.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 829,871 shares of the company’s stock after purchasing an additional 621,459 shares during the period. Retirement Systems of Alabama owned approximately 0.08% of Baker Hughes worth $45,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amundi increased its stake in Baker Hughes by 28.2% during the 1st quarter. Amundi now owns 10,946,464 shares of the company’s stock valued at $668,282,000 after purchasing an additional 2,409,978 shares in the last quarter. Advent International L.P. purchased a new position in Baker Hughes in the first quarter worth about $72,309,000. Assenagon Asset Management S.A. raised its holdings in Baker Hughes by 1,289.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,210,521 shares of the company’s stock worth $72,630,000 after buying an additional 1,123,391 shares during the last quarter. Perpetual Ltd lifted its stake in shares of Baker Hughes by 24.0% in the third quarter. Perpetual Ltd now owns 3,958,604 shares of the company’s stock worth $217,327,000 after buying an additional 765,582 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Baker Hughes in the third quarter worth approximately $38,380,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ BKR opened at $47.77 on Wednesday. Baker Hughes Company has a one year low of $44.26 and a one year high of $70.41. The stock has a 50-day moving average of $56.32 and a 200 day moving average of $59.97. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.90 and a current ratio of 1.24. The company has a market capitalization of $47.44 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 2.31 and a beta of 1.07.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. The business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.74 billion. Baker Hughes had a net margin of 10.08% and a return on equity of 13.55%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. On average, sell-side analysts forecast that Baker Hughes Company will post 2.56 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Tuesday, November 10th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. Baker Hughes’s payout ratio is currently 31.72%.

Insider Activity at Baker Hughes

In related news, Director John Rice acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was purchased at an average cost of $53.10 per share, with a total value of $531,000.00. Following the completion of the acquisition, the director directly owned 77,315 shares of the company’s stock, valued at approximately $4,105,426.50. This trade represents a 14.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BKR shares. Freedom Broker upgraded shares of Baker Hughes from a “sell” rating to a “hold” rating and increased their price target for the company from $51.00 to $52.00 in a report on Friday, October 30th. Wall Street Zen lowered shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. TD Cowen boosted their price objective on shares of Baker Hughes from $76.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Susquehanna upped their price objective on Baker Hughes from $72.00 to $75.00 and gave the company a “positive” rating in a research report on Thursday, September 10th. Finally, UBS Group cut their target price on Baker Hughes from $72.00 to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $70.27.

Baker Hughes Company Profile

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing. The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.