Praxis Investment Management Inc. Sells 8,550 Shares of Baker Hughes Company $BKR

Praxis Investment Management Inc. decreased its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 10.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,280 shares of the company’s stock after selling 8,550 shares during the period. Praxis Investment Management Inc.’s holdings in Baker Hughes were worth $2,925,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. New York State Teachers Retirement System boosted its stake in shares of Baker Hughes by 7.0% during the 2nd quarter. New York State Teachers Retirement System now owns 875,693 shares of the company’s stock valued at $33,574,000 after purchasing an additional 57,269 shares in the last quarter. Mutual Advisors LLC bought a new stake in shares of Baker Hughes during the 2nd quarter valued at about $475,000. Harbour Investments Inc. boosted its stake in Baker Hughes by 61.7% during the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after acquiring an additional 326 shares in the last quarter. Alpine Woods Capital Investors LLC boosted its stake in Baker Hughes by 4.0% during the second quarter. Alpine Woods Capital Investors LLC now owns 44,593 shares of the company’s stock worth $1,710,000 after acquiring an additional 1,716 shares in the last quarter. Finally, Heartland Bank & Trust Co bought a new stake in Baker Hughes during the second quarter worth about $334,000. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BKR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research note on Wednesday, October 8th. Barclays reissued an “overweight” rating on shares of Baker Hughes in a research note on Tuesday. JPMorgan Chase & Co. lifted 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. Melius Research initiated coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 target price for the company. Finally, The Goldman Sachs Group decreased their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, July 2nd. Twenty-two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $52.91.

Insiders Place Their Bets

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lorenzo Simonelli sold 526,568 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the transaction, the chief executive officer directly owned 667,593 shares of the company’s stock, valued at $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 553,068 shares of company stock worth $24,712,651 over the last three months. 0.27% of the stock is currently owned by company insiders.

Baker Hughes Stock Performance

BKR opened at $44.64 on Friday. The firm has a market cap of $44.01 billion, a P/E ratio of 14.59, a PEG ratio of 1.92 and a beta of 0.99. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $50.92. The company has a 50 day simple moving average of $46.04 and a two-hundred day simple moving average of $41.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR) last posted 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 during the quarter. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. Equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Baker Hughes’s dividend payout ratio is presently 30.07%.

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.