Bessemer Group Inc. boosted its holdings in Baker Hughes (NASDAQ:BKR – Free Report) by 43.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 10,626 shares of the company’s stock after buying an additional 3,209 shares during the period. Bessemer Group Inc.’s holdings in Baker Hughes were worth $307,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of BKR. BOK Financial Private Wealth Inc. purchased a new position in shares of Baker Hughes during the first quarter valued at about $34,000. Portland Hill Asset Management Ltd purchased a new position in Baker Hughes in the fourth quarter worth about $36,000. BDO Wealth Advisors LLC purchased a new position in Baker Hughes in the first quarter worth about $36,000. Covestor Ltd grew its position in Baker Hughes by 104.7% in the first quarter. Covestor Ltd now owns 1,349 shares of the company’s stock worth $49,000 after acquiring an additional 690 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Baker Hughes in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 92.62% of the company’s stock.
Insider Activity
In related news, SVP James E. Apostolides sold 3,195 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $29.93, for a total transaction of $95,626.35. Following the completion of the transaction, the senior vice president now directly owns 8,147 shares in the company, valued at $243,839.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP James E. Apostolides sold 3,195 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $29.93, for a total transaction of $95,626.35. Following the completion of the transaction, the senior vice president now directly owns 8,147 shares in the company, valued at $243,839.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lorenzo Simonelli sold 122,500 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $35.49, for a total transaction of $4,347,525.00. Following the completion of the transaction, the chief executive officer now owns 589,938 shares of the company’s stock, valued at approximately $20,936,899.62. The disclosure for this sale can be found here. Insiders have sold 145,695 shares of company stock valued at $5,154,051 over the last ninety days. 0.24% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
View Our Latest Analysis on BKR
Baker Hughes Price Performance
Shares of BKR opened at $35.46 on Thursday. The firm has a market capitalization of $35.80 billion, a PE ratio of 31.38 and a beta of 1.51. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.28 and a quick ratio of 0.88. Baker Hughes has a 1-year low of $20.42 and a 1-year high of $36.48. The company’s fifty day moving average price is $33.74 and its 200-day moving average price is $30.86.
Baker Hughes (NASDAQ:BKR – Get Free Report) last announced its quarterly earnings data on Wednesday, July 19th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.27 billion. Baker Hughes had a net margin of 4.94% and a return on equity of 9.01%. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share. On average, equities research analysts predict that Baker Hughes will post 1.53 EPS for the current year.
Baker Hughes Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Tuesday, August 8th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, August 7th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.26%. Baker Hughes’s payout ratio is 70.80%.
Baker Hughes Company Profile
Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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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