Baker Hughes (NASDAQ:BKR) Shares Bought by Moors & Cabot Inc.

Moors & Cabot Inc. grew its holdings in Baker Hughes (NASDAQ:BKR) by 20.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,437 shares of the company’s stock after acquiring an additional 9,456 shares during the quarter. Moors & Cabot Inc.’s holdings in Baker Hughes were worth $1,985,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lmcg Investments LLC grew its holdings in shares of Baker Hughes by 0.6% during the second quarter. Lmcg Investments LLC now owns 130,839 shares of the company’s stock valued at $4,602,000 after buying an additional 800 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Baker Hughes by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after purchasing an additional 680,621 shares during the last quarter. Plato Investment Management Ltd grew its stake in Baker Hughes by 1.2% during the 2nd quarter. Plato Investment Management Ltd now owns 136,609 shares of the company’s stock valued at $4,805,000 after purchasing an additional 1,630 shares during the last quarter. Alta Advisers Ltd acquired a new position in shares of Baker Hughes in the second quarter valued at about $42,000. Finally, Meeder Advisory Services Inc. raised its stake in shares of Baker Hughes by 41.6% in the second quarter. Meeder Advisory Services Inc. now owns 14,779 shares of the company’s stock worth $520,000 after purchasing an additional 4,341 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BKR shares. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a research report on Friday, July 26th. Royal Bank of Canada raised their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Piper Sandler decreased their target price on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus increased their price target on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Susquehanna lifted their price objective on Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $43.31.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $34.73 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The firm has a fifty day moving average of $35.11 and a 200 day moving average of $33.59. The firm has a market cap of $34.66 billion, a PE ratio of 19.40, a PEG ratio of 0.54 and a beta of 1.38. Baker Hughes has a one year low of $28.32 and a one year high of $39.05.

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

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

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.