Baker Hughes Company (NASDAQ:BKR) Shares Acquired by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. lifted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,772 shares of the company’s stock after purchasing an additional 674 shares during the period. Meeder Advisory Services Inc.’s holdings in Baker Hughes were worth $649,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its stake in shares of Baker Hughes by 2,585.6% in the first quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company’s stock worth $169,511,000 after buying an additional 3,713,301 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Baker Hughes by 2,527.6% in the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock worth $136,158,000 after buying an additional 3,193,089 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Baker Hughes in the fourth quarter worth $128,542,000. FMR LLC increased its stake in shares of Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company’s stock worth $644,098,000 after buying an additional 1,744,225 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Baker Hughes by 18.4% in the fourth quarter. Northern Trust Corp now owns 10,000,756 shares of the company’s stock worth $410,231,000 after buying an additional 1,553,536 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $45.53 on Thursday. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. 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 capitalization of $45.11 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 5.65 and a beta of 0.91. The firm has a 50-day moving average of $39.41 and a two-hundred day moving average of $41.02.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same period in the prior year, the company earned $0.57 EPS. Baker Hughes’s revenue was down 3.2% on a year-over-year basis. As a group, analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, August 5th. Baker Hughes’s payout ratio is 30.07%.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the sale, the chief executive officer directly owned 667,593 shares of the company’s stock, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Susquehanna increased their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock a “positive” rating in a report on Thursday, July 24th. Barclays increased their target price on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Jefferies Financial Group reissued a “buy” rating on shares of Baker Hughes in a report on Sunday. The Goldman Sachs Group lowered their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, July 2nd. Finally, TD Securities lowered their price target on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $50.94.

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.