Goldman Sachs Group Inc. Raises Position in Baker Hughes (NASDAQ:BKR)

Goldman Sachs Group Inc. boosted its holdings in Baker Hughes (NASDAQ:BKR) by 47.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,635,875 shares of the company’s stock after purchasing an additional 1,822,487 shares during the period. Goldman Sachs Group Inc. owned approximately 0.56% of Baker Hughes worth $192,634,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BKR. Bruce G. Allen Investments LLC purchased a new position in Baker Hughes during the 4th quarter valued at $33,000. Montag A & Associates Inc. raised its stake in Baker Hughes by 100.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock worth $34,000 after buying an additional 500 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in Baker Hughes by 38.2% in the third quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock worth $54,000 after buying an additional 421 shares during the period. Raleigh Capital Management Inc. boosted its position in Baker Hughes by 7,226.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 2,198 shares of the company’s stock valued at $78,000 after acquiring an additional 2,168 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Baker Hughes by 15.5% during the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after acquiring an additional 327 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the transaction, the executive vice president now owns 92,035 shares in the company, valued at $2,945,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the sale, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

BKR has been the subject of a number of recent research reports. Susquehanna reiterated a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. UBS Group upped their price target on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Morgan Stanley raised their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. The Goldman Sachs Group increased their price target on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Finally, Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.13.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded down $0.54 during midday trading on Friday, reaching $31.09. 5,243,299 shares of the company were exchanged, compared to its average volume of 6,008,061. The stock has a market cap of $31.03 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 0.53 and a beta of 1.43. The business’s fifty day moving average is $32.52 and its two-hundred day moving average is $31.99. Baker Hughes has a one year low of $28.32 and a one year high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 earnings per share. As a group, analysts predict that Baker Hughes will post 2.09 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s payout ratio is 46.93%.

About Baker Hughes

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.