Hudson Valley Investment Advisors Inc. ADV Lowers Stock Holdings in Baker Hughes (NASDAQ:BKR)

Hudson Valley Investment Advisors Inc. ADV lowered its holdings in shares of Baker Hughes (NASDAQ:BKR) by 8.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,674 shares of the company’s stock after selling 14,320 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Baker Hughes were worth $5,375,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in Baker Hughes by 32.0% during the first 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after acquiring an additional 680,621 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after acquiring an additional 692,859 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Baker Hughes by 3.1% in the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after acquiring an additional 248,122 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Baker Hughes by 10.2% in the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after acquiring an additional 612,715 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 1.1 %

Shares of NASDAQ BKR opened at $37.49 on Thursday. The company has a market capitalization of $37.41 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 0.61 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 business has a 50-day moving average of $35.86 and a two-hundred day moving average of $34.46. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the business earned $0.42 EPS. Baker Hughes’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts forecast that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares in the company, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup decreased their target price on Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Piper Sandler cut their price target on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Susquehanna increased their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes 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.