Global Retirement Partners LLC Takes Position in Baker Hughes Company $BKR

Global Retirement Partners LLC acquired a new stake in Baker Hughes Company (NASDAQ:BKR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,524 shares of the company’s stock, valued at approximately $442,000.

Other large investors have also added to or reduced their stakes in the company. Harbour Investments Inc. grew its holdings in Baker Hughes by 61.7% during the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after acquiring an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new position in shares of Baker Hughes during the second quarter worth $36,000. Zions Bancorporation National Association UT acquired a new position in shares of Baker Hughes during the first quarter worth $45,000. LRI Investments LLC grew its stake in shares of Baker Hughes by 59.3% in the second quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in Baker Hughes in the second quarter valued at $43,000. Institutional investors own 92.06% of the company’s stock.

Insider Activity

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

Baker Hughes Price Performance

Shares of BKR opened at $50.17 on Friday. The firm has a market cap of $49.51 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.92. The business’s 50 day moving average price is $47.97 and its two-hundred day moving average price is $43.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41.

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

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s dividend payout ratio is 31.72%.

Analyst Ratings Changes

Several research analysts have commented on the company. Stifel Nicolaus lifted their target price on Baker Hughes from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Susquehanna lifted their price objective on Baker Hughes from $52.00 to $56.00 and gave the stock a “positive” rating in a research note on Thursday, October 2nd. Royal Bank Of Canada upped their target price on Baker Hughes from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Bank of America raised their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Finally, BMO Capital Markets upped their price objective on shares of Baker Hughes from $53.00 to $55.00 in a research note on Tuesday, November 11th. Twenty-three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.42.

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.