Meiji Yasuda Life Insurance Co Invests $830,000 in Baker Hughes (NASDAQ:BKR)

Meiji Yasuda Life Insurance Co purchased a new stake in shares of Baker Hughes (NASDAQ:BKR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,600 shares of the company’s stock, valued at approximately $830,000.

Several other institutional investors have also added to or reduced their stakes in BKR. Private Advisor Group LLC increased its position in Baker Hughes by 7.8% in the fourth quarter. Private Advisor Group LLC now owns 11,889 shares of the company’s stock worth $406,000 after purchasing an additional 865 shares during the last quarter. SCP Investment LP raised its position in shares of Baker Hughes by 31.3% during the 4th quarter. SCP Investment LP now owns 16,800 shares of the company’s stock valued at $546,000 after buying an additional 4,000 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Baker Hughes during the 4th quarter valued at about $95,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Baker Hughes in the 4th quarter valued at about $592,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Baker Hughes by 0.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 107,946 shares of the company’s stock worth $3,690,000 after purchasing an additional 525 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ BKR opened at $34.67 on Thursday. The company has a market cap of $34.60 billion, a PE ratio of 19.37, a P/E/G ratio of 0.54 and a beta of 1.38. The firm’s 50 day moving average price is $35.12 and its 200-day moving average price is $33.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 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 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. Sell-side analysts forecast that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company increased their price target on Baker Hughes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. UBS Group dropped their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Morgan Stanley lowered their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $43.19.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

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.