American Century Companies Inc. Has $291.01 Million Stock Position in Baker Hughes (NASDAQ:BKR)

American Century Companies Inc. lifted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,274,250 shares of the company’s stock after purchasing an additional 248,122 shares during the quarter. American Century Companies Inc. owned approximately 0.83% of Baker Hughes worth $291,005,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in shares of Baker Hughes by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares during the last quarter. Norges Bank acquired a new position in Baker Hughes in the 4th quarter valued at $551,555,000. Clearbridge Investments LLC increased its holdings in shares of Baker Hughes by 10.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after purchasing an additional 612,715 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Baker Hughes by 47.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after purchasing an additional 1,822,487 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Baker Hughes by 1.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,519,437 shares of the company’s stock valued at $184,901,000 after acquiring an additional 64,448 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on BKR. Royal Bank of Canada boosted their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Bank of America reduced their target price on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus boosted their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. TD Cowen boosted their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, UBS Group upped their target price on shares of Baker Hughes from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.38.

Baker Hughes Stock Performance

Shares of BKR stock opened at $32.93 on Thursday. The stock has a market cap of $32.71 billion, a P/E ratio of 18.40, a P/E/G ratio of 0.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The company has a fifty day moving average price of $35.13 and a two-hundred day moving average price of $33.44. Baker Hughes has a one year low of $28.32 and a one year high of $39.05.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. As a group, equities analysts predict that Baker Hughes will post 2.24 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s payout ratio is presently 46.93%.

Baker Hughes Company 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.