Baker Hughes (NASDAQ:BKR) Shares Sold by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV lessened its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 148,674 shares of the company's stock after selling 14,320 shares during the period. Hudson Valley Investment Advisors Inc. ADV's holdings in Baker Hughes were worth $5,375,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Baker Hughes by 8.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company's stock valued at $782,000 after purchasing an additional 1,829 shares during the period. Norden Group LLC bought a new stake in shares of Baker Hughes in the first quarter worth approximately $2,392,000. Commonwealth Equity Services LLC raised its position in Baker Hughes by 23.5% in the first quarter. Commonwealth Equity Services LLC now owns 30,644 shares of the company's stock worth $1,027,000 after acquiring an additional 5,839 shares during the period. Wakefield Asset Management LLLP boosted its holdings in Baker Hughes by 132.1% in the 1st quarter. Wakefield Asset Management LLLP now owns 118,484 shares of the company's stock worth $3,969,000 after buying an additional 67,440 shares during the period. Finally, Iridian Asset Management LLC CT grew its position in shares of Baker Hughes by 24.0% during the first quarter. Iridian Asset Management LLC CT now owns 182,517 shares of the company's stock valued at $6,114,000 after purchasing an additional 35,274 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BKR shares. UBS Group lowered their target price on shares of Baker Hughes from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, September 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $43.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Benchmark reissued a "buy" rating and set a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Jefferies Financial Group lifted their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Finally, Bank of America lowered their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, July 15th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus target price of $44.12.

Baker Hughes Price Performance

NASDAQ:BKR traded up $0.59 during trading hours on Thursday, hitting $38.08. 8,903,203 shares of the company's stock traded hands, compared to its average volume of 7,224,711. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The business's fifty day simple moving average is $35.93 and its two-hundred day simple moving average is $34.49. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The firm has a market cap of $38.00 billion, a P/E ratio of 21.27, a P/E/G ratio of 0.61 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 EPS. On average, research analysts anticipate that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes's dividend payout ratio (DPR) is 46.93%.

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

About Baker Hughes

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.