United Capital Management of KS Inc. decreased its position in Baker Hughes Company (NASDAQ:BKR – Free Report) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,100 shares of the company’s stock after selling 15,553 shares during the period. United Capital Management of KS Inc.’s holdings in Baker Hughes were worth $4,376,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its stake in Baker Hughes by 344.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after purchasing an additional 468 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 252 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in Baker Hughes by 55.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock worth $38,000 after purchasing an additional 300 shares in the last quarter. Manchester Capital Management LLC boosted its stake in Baker Hughes by 35.9% in the 4th quarter. Manchester Capital Management LLC now owns 1,370 shares of the company’s stock worth $62,000 after purchasing an additional 362 shares in the last quarter. Finally, Hilltop National Bank boosted its stake in Baker Hughes by 26.7% in the 4th quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.
Insider Buying and Selling at Baker Hughes
In other news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares in the company, valued at $1,027,327.34. This represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by company insiders.
Baker Hughes Trading Down 0.5%
Baker Hughes (NASDAQ:BKR – Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Research analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current year.
Baker Hughes Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is 29.39%.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the stock. Susquehanna upped their price target on shares of Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a research note on Monday, April 27th. Wall Street Zen cut shares of Baker Hughes from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Stifel Nicolaus upped their price target on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Finally, Capital One Financial upped their target price on shares of Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Eighteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.14.
View Our Latest Report on Baker Hughes
Baker Hughes Company Profile
Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.
The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.
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