Engine NO. 1 LLC Buys Shares of 208,000 Baker Hughes (NASDAQ:BKR)

Engine NO. 1 LLC purchased a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 208,000 shares of the company's stock, valued at approximately $8,532,000. Baker Hughes makes up 22.7% of Engine NO. 1 LLC's holdings, making the stock its 2nd largest holding.

Other institutional investors also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new position in shares of Baker Hughes during the third quarter valued at approximately $1,263,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Baker Hughes during the 3rd quarter worth $139,000. Birmingham Capital Management Co. Inc. AL boosted its holdings in shares of Baker Hughes by 18.5% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company's stock worth $578,000 after purchasing an additional 2,500 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Baker Hughes by 4.2% in the third quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company's stock valued at $42,580,000 after purchasing an additional 47,727 shares during the period. Finally, GAMMA Investing LLC increased its stake in Baker Hughes by 41.1% in the fourth quarter. GAMMA Investing LLC now owns 10,286 shares of the company's stock valued at $422,000 after purchasing an additional 2,998 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays dropped their price objective on shares of Baker Hughes from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Citigroup cut their price target on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group boosted their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Susquehanna cut their target price on Baker Hughes from $55.00 to $48.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Finally, Royal Bank of Canada upped their price target on Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Baker Hughes presently has an average rating of "Moderate Buy" and a consensus price target of $50.65.

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares of the company's stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.27% of the stock is owned by insiders.

Baker Hughes Trading Up 1.5 %

BKR opened at $38.36 on Wednesday. The firm has a market capitalization of $37.98 billion, a P/E ratio of 12.87, a P/E/G ratio of 2.00 and a beta of 1.08. The firm's 50 day moving average is $42.01 and its 200-day moving average is $42.10. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.40%. Baker Hughes's dividend payout ratio is currently 30.87%.

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.

Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes (NASDAQ:BKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.