Baker Hughes Company $BKR is Palouse Capital Management Inc.’s 9th Largest Position

Palouse Capital Management Inc. decreased its position in Baker Hughes Company (NASDAQ:BKR) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,246 shares of the company’s stock after selling 1,082 shares during the quarter. Baker Hughes accounts for about 2.5% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 9th largest holding. Palouse Capital Management Inc.’s holdings in Baker Hughes were worth $3,843,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Forum Financial Management LP increased its stake in Baker Hughes by 1.4% during the 2nd quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock valued at $662,000 after buying an additional 233 shares during the period. Prosperity Consulting Group LLC boosted its stake in Baker Hughes by 2.7% during the first quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company’s stock valued at $463,000 after buying an additional 278 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Baker Hughes by 1.4% during the second quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock worth $834,000 after acquiring an additional 292 shares during the period. Moody National Bank Trust Division raised its position in Baker Hughes by 5.9% in the second quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock worth $205,000 after acquiring an additional 296 shares in the last quarter. Finally, City Center Advisors LLC lifted its holdings in Baker Hughes by 3.6% in the 2nd quarter. City Center Advisors LLC now owns 8,486 shares of the company’s stock valued at $325,000 after acquiring an additional 298 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Up 1.9%

Shares of BKR opened at $48.80 on Tuesday. The company has a market capitalization of $48.15 billion, a P/E ratio of 16.83, a PEG ratio of 2.06 and a beta of 1.03. Baker Hughes Company has a one year low of $33.60 and a one year high of $50.92. The business’s 50 day simple moving average is $47.30 and its 200-day simple moving average is $42.55. 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 announced its earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The company had revenue of $5.09 billion for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. As a group, sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Insider Activity

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Melius Research initiated coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They set a “buy” rating and a $60.00 target price for the company. Barclays upped their price target on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Citigroup decreased their target price on shares of Baker Hughes from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, October 27th. Morgan Stanley boosted their target price on Baker Hughes from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. 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 equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.