Savant Capital LLC Cuts Holdings in Baker Hughes Company $BKR

Savant Capital LLC lowered its holdings in Baker Hughes Company (NASDAQ:BKR) by 39.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,558 shares of the company’s stock after selling 56,590 shares during the quarter. Savant Capital LLC’s holdings in Baker Hughes were worth $3,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. N.E.W. Advisory Services LLC purchased a new position in Baker Hughes in the 1st quarter worth about $30,000. Harbour Investments Inc. grew its stake in shares of Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after acquiring an additional 326 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Baker Hughes during the first quarter valued at approximately $45,000. LRI Investments LLC lifted its position in Baker Hughes by 59.3% during the second quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the period. Finally, Hilltop National Bank bought a new position in Baker Hughes during the second quarter valued at approximately $43,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 1.2%

Baker Hughes stock opened at $47.87 on Monday. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92. The firm has a market capitalization of $47.24 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 2.06 and a beta of 1.03. The firm has a 50 day moving average of $47.23 and a 200 day moving average of $42.47. 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 issued 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 for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. As a group, research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, November 4th. Baker Hughes’s dividend payout ratio is presently 31.72%.

Insider Transactions at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 1,000 shares of the business’s 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 transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at $588,600. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the transaction, the executive vice president directly owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

BKR has been the subject of a number of research analyst reports. Melius Research began coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 target price for the company. Barclays lifted their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Baker Hughes in a research report on Monday, October 27th. Finally, Seaport Res Ptn lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 29th. Twenty-three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.29.

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.