Spirit of America Management Corp NY Lowers Stake in Baker Hughes Company $BKR

Spirit of America Management Corp NY lowered its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,750 shares of the company’s stock after selling 2,000 shares during the period. Spirit of America Management Corp NY’s holdings in Baker Hughes were worth $2,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BKR. GAMMA Investing LLC lifted its holdings in Baker Hughes by 27.9% during the first quarter. GAMMA Investing LLC now owns 13,158 shares of the company’s stock worth $578,000 after buying an additional 2,872 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Baker Hughes by 34.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,847 shares of the company’s stock valued at $3,246,000 after purchasing an additional 19,048 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Baker Hughes by 71.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 30,932 shares of the company’s stock valued at $1,359,000 after purchasing an additional 12,838 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Baker Hughes by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 115,982 shares of the company’s stock valued at $5,097,000 after purchasing an additional 3,165 shares during the last quarter. Finally, Johnson Investment Counsel Inc. purchased a new stake in shares of Baker Hughes during the 1st quarter valued at $360,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

BKR has been the subject of several analyst reports. TD Cowen increased their price objective on Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 24th. UBS Group increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Stifel Nicolaus decreased their price objective on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Finally, Citigroup increased their price objective on Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Twenty-two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.91.

Baker Hughes Price Performance

NASDAQ BKR opened at $45.18 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The stock’s fifty day moving average price is $46.08 and its 200 day moving average price is $41.38. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $50.92. The company has a market cap of $44.54 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.93 and a beta of 0.99.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The firm had revenue of $5.09 billion for the quarter. As a group, equities research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes’s dividend payout ratio (DPR) is currently 30.07%.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the sale, the chief executive officer directly owned 667,593 shares of the company’s stock, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the sale, the chief accounting officer directly owned 11,772 shares in the company, valued at $588,600. This represents a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 553,068 shares of company stock valued at $24,712,651. Company insiders own 0.27% of the company’s stock.

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.