Baker Hughes Company $BKR Stock Purchased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. grew its position in Baker Hughes Company (NASDAQ:BKR) by 27.2% in the third quarter, Holdings Channel.com reports. The fund owned 2,544,172 shares of the company’s stock after buying an additional 543,546 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Baker Hughes were worth $140,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Amundi increased its position in shares of Baker Hughes by 28.2% during the first 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 during the period. First Trust Advisors LP boosted its stake in Baker Hughes by 4.0% during the first quarter. First Trust Advisors LP now owns 9,663,737 shares of the company’s stock worth $589,971,000 after buying an additional 374,974 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Baker Hughes by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 6,738,599 shares of the company’s stock worth $411,391,000 after buying an additional 119,388 shares in the last quarter. Bank of America Corp DE increased its holdings in Baker Hughes by 5.1% in the 1st quarter. Bank of America Corp DE now owns 3,837,618 shares of the company’s stock valued at $234,287,000 after buying an additional 184,897 shares during the period. Finally, Bessemer Group Inc. increased its holdings in Baker Hughes by 2.1% in the 1st quarter. Bessemer Group Inc. now owns 3,565,158 shares of the company’s stock valued at $217,652,000 after buying an additional 73,836 shares during the period. Institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other news, Director John Rice bought 10,000 shares of Baker Hughes stock in a transaction dated Tuesday, November 3rd. The shares were bought at an average price of $53.10 per share, for a total transaction of $531,000.00. Following the purchase, the director 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BKR. TD Cowen increased their price objective on shares of Baker Hughes from $76.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. The Goldman Sachs Group initiated coverage on shares of Baker Hughes in a research report on Tuesday, September 29th. They set a “buy” rating and a $71.00 target price on the stock. Jefferies Financial Group decreased their target price on shares of Baker Hughes from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, September 29th. Royal Bank Of Canada lowered their target price on shares of Baker Hughes from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, October 29th. Finally, Stifel Nicolaus increased their price target on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.27.

Trending Headlines about Baker Hughes

Investors following BKR have been watching these headlines:

• Positive Sentiment: Baker Hughes raised its full-year industrial-segment orders outlook to $21.5 billion–$23.5 billion, while data-center power orders reached $4.9 billion year to date. Those figures point to solid demand in an area investors are watching for future growth. Baker Hughes: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: The company won a Cronos-related contract in Cyprus, adding to its commercial activity. The available coverage also raises fair-value concerns, so the deal’s financial impact is not clear from the headline alone. Baker Hughes lands Cronos deal
• Neutral Sentiment: Sell-side analysts were reported to have a “Moderate Buy” consensus. Separately, call-option trading rose sharply, which may reflect bullish positioning but is not a reliable indicator of future share performance. Analyst rating coverage

Baker Hughes Price Performance

Baker Hughes stock opened at $48.86 on Friday. The business has a 50 day simple moving average of $55.72 and a 200 day simple moving average of $59.91. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 0.90. The company has a market capitalization of $48.52 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.36 and a beta of 1.07. Baker Hughes Company has a one year low of $44.26 and a one year high of $70.41.

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

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

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.