Van ECK Associates Corp Sells 510,851 Shares of Baker Hughes (NASDAQ:BKR)

Van ECK Associates Corp reduced its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,600,826 shares of the company's stock after selling 510,851 shares during the period. Van ECK Associates Corp owned approximately 0.56% of Baker Hughes worth $207,231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. New Covenant Trust Company N.A. bought a new stake in Baker Hughes during the 1st quarter worth approximately $34,000. Alta Advisers Ltd acquired a new stake in shares of Baker Hughes during the second quarter worth $42,000. Headlands Technologies LLC bought a new stake in Baker Hughes in the 2nd quarter valued at $48,000. Quarry LP boosted its stake in Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company's stock worth $56,000 after purchasing an additional 714 shares during the period. Finally, UMB Bank n.a. increased its holdings in Baker Hughes by 18.4% during the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company's stock worth $66,000 after purchasing an additional 291 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Down 0.6 %

NASDAQ BKR traded down $0.23 during trading hours on Friday, hitting $37.85. The company's stock had a trading volume of 7,921,211 shares, compared to its average volume of 5,611,717. The company has a market capitalization of $37.45 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 0.65 and a beta of 1.38. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The company's 50-day simple moving average is $35.98 and its two-hundred day simple moving average is $34.56.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.21 billion. During the same period last year, the business earned $0.42 EPS. The business's revenue was up 4.0% on a year-over-year basis. Research analysts anticipate that Baker Hughes will post 2.28 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Monday, November 4th. Baker Hughes's payout ratio is 37.67%.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BKR shares. Susquehanna raised their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the company a "positive" rating in a research report on Thursday, October 24th. Citigroup decreased their price objective on Baker Hughes from $44.00 to $42.00 and set a "buy" rating for the company in a report on Friday, September 27th. Barclays upped their target price on Baker Hughes from $41.00 to $46.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on Baker Hughes from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, July 29th. Finally, Evercore ISI boosted their price target on Baker Hughes from $42.00 to $46.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $44.12.

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.