Fisher Asset Management LLC Lowers Holdings in Baker Hughes Company $BKR

Fisher Asset Management LLC trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR) by 9.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 683,408 shares of the company’s stock after selling 74,296 shares during the period. Fisher Asset Management LLC’s holdings in Baker Hughes were worth $26,202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Harbour Investments Inc. lifted its stake in shares of Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after buying an additional 326 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in Baker Hughes in the 2nd quarter worth approximately $36,000. Zions Bancorporation National Association UT bought a new position in Baker Hughes in the 1st quarter valued at approximately $45,000. LRI Investments LLC boosted its stake in Baker Hughes by 59.3% during the 2nd quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Baker Hughes in the 2nd quarter worth $43,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Performance

BKR opened at $49.48 on Wednesday. The company’s 50 day moving average is $48.03 and its 200 day moving average is $43.91. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The company has a market cap of $48.83 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.82 and a beta of 0.90. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92.

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

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 annualized dividend and a yield of 1.9%. Baker Hughes’s payout ratio is 31.72%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BKR shares. TD Cowen upped their price target on Baker Hughes from $54.00 to $57.00 and gave the company a “buy” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a report on Monday. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, October 27th. JPMorgan Chase & Co. raised their target price on shares of Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 30th. Finally, BMO Capital Markets lifted their target price on shares of Baker Hughes from $53.00 to $55.00 in a research report 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.42.

Insider Activity

In other news, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction dated 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. The trade was a 38.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer owned 11,772 shares of the company’s stock, valued at approximately $588,600. This trade represents a 7.83% 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.

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.