Fisher Asset Management LLC Increases Position in Baker Hughes Company $BKR

Fisher Asset Management LLC grew its holdings in Baker Hughes Company (NASDAQ:BKR) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 716,879 shares of the company’s stock after purchasing an additional 33,471 shares during the quarter. Fisher Asset Management LLC owned about 0.07% of Baker Hughes worth $34,926,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Baker Hughes by 0.5% during the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after buying an additional 598,159 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Baker Hughes by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock valued at $987,961,000 after acquiring an additional 397,984 shares during the last quarter. Norges Bank acquired a new position in shares of Baker Hughes during the 2nd quarter valued at about $862,722,000. Artisan Partners Limited Partnership grew its holdings in shares of Baker Hughes by 3.8% in the third quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock valued at $843,653,000 after purchasing an additional 638,640 shares during the period. Finally, Invesco Ltd. increased its position in Baker Hughes by 18.9% during the second 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 during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director William G. Beattie sold 18,023 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Maria Georgia Magno sold 19,150 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $59.11, for a total value of $1,131,956.50. Following the transaction, the insider directly owned 14,588 shares of the company’s stock, valued at $862,296.68. The trade was a 56.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 40,001 shares of company stock worth $2,322,692 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Baker Hughes Price Performance

BKR stock opened at $62.54 on Wednesday. The business’s fifty day moving average price is $55.24 and its 200 day moving average price is $50.00. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $67.00. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $61.80 billion, a PE ratio of 24.05, a P/E/G ratio of 1.76 and a beta of 0.83.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. The company had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.Baker Hughes’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. On average, sell-side analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s dividend payout ratio is presently 35.38%.

Analyst Ratings Changes

Several analysts have recently weighed in on BKR shares. Johnson Rice initiated coverage on shares of Baker Hughes in a research note on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price target for the company. Stifel Nicolaus increased their price objective on Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Susquehanna lifted their target price on Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, January 27th. Zephirin Group increased their price target on Baker Hughes from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Finally, Barclays raised their price objective on Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Twenty investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.61.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.