Brown Advisory Inc. Cuts Stock Holdings in Baker Hughes Company $BKR

Brown Advisory Inc. cut its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 17.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 420,468 shares of the company’s stock after selling 90,069 shares during the quarter. Brown Advisory Inc.’s holdings in Baker Hughes were worth $16,121,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Baker Hughes in the second quarter valued at $862,722,000. Nuveen LLC purchased a new position in shares of Baker Hughes in the 1st quarter worth about $404,385,000. First Trust Advisors LP lifted its stake in shares of Baker Hughes by 76.0% in the 2nd quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock valued at $284,446,000 after purchasing an additional 3,203,942 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Baker Hughes by 38.0% during the 2nd quarter. American Century Companies Inc. now owns 7,602,803 shares of the company’s stock worth $291,492,000 after purchasing an additional 2,094,079 shares during the period. Finally, Invesco Ltd. increased its position in Baker Hughes by 18.9% during the 2nd quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock worth $492,076,000 after purchasing an additional 2,044,402 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Baker Hughes news, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes 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 sale, the executive vice president directly owned 40,520 shares in the company, valued at $2,026,000. The trade was a 38.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of the company’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 completion of the transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at approximately $588,600. The trade was a 7.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.27% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR stock opened at $49.20 on Monday. The firm has a fifty day simple moving average of $48.03 and a 200-day simple moving average of $44.18. The company has a market capitalization of $48.55 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.79 and a beta of 0.90. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $51.12. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33.

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

Baker Hughes Announces Dividend

The firm also recently announced 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 1.9%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s payout ratio is presently 31.72%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup cut their price target on shares of Baker Hughes from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Susquehanna increased their price objective on shares of Baker Hughes from $52.00 to $56.00 and gave the stock a “positive” rating in a research report on Thursday, October 2nd. Royal Bank Of Canada raised their target price on shares of Baker Hughes from $50.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 1st. Finally, Stifel Nicolaus increased their price target on Baker Hughes from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, October 27th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average 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.