Advisors Asset Management Inc. Sells 12,280 Shares of Baker Hughes Company $BKR

Advisors Asset Management Inc. decreased its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 12.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,418 shares of the company’s stock after selling 12,280 shares during the period. Advisors Asset Management Inc.’s holdings in Baker Hughes were worth $3,352,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC acquired a new position in shares of Baker Hughes during the first quarter worth approximately $30,000. Harbour Investments Inc. raised its position in Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after purchasing an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new position in Baker Hughes during the 2nd quarter worth $36,000. LRI Investments LLC boosted its position in Baker Hughes by 59.3% in the 2nd quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock valued at $40,000 after buying an additional 384 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of Baker Hughes in the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Up 1.3%

Shares of NASDAQ:BKR opened at $50.17 on Friday. The firm has a market cap of $49.51 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.06 and a beta of 1.03. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $50.92. The company’s fifty day simple moving average is $47.97 and its 200 day simple moving average is $43.66. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The firm had revenue of $5.09 billion during the quarter. As a group, research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is currently 31.72%.

Insider Activity at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares of the company’s stock, valued at $588,600. This represents a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the transaction, the executive vice president directly owned 40,520 shares of the company’s stock, valued at $2,026,000. This represents a 38.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BKR. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 30th. Bank of America raised their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, Melius Research initiated coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price objective on the stock. Twenty-three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.42.

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.