China Universal Asset Management Co. Ltd. boosted its position in Baker Hughes (NASDAQ:BKR – Free Report) by 110.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,601 shares of the company’s stock after acquiring an additional 6,601 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Baker Hughes were worth $456,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of BKR. Price T Rowe Associates Inc. MD raised its holdings in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after acquiring an additional 4,207,973 shares in the last quarter. Legal & General Group Plc raised its holdings in Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares during the period. Clearbridge Investments LLC lifted its position in shares of Baker Hughes by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after purchasing an additional 612,715 shares during the period. Finally, Intermede Investment Partners Ltd boosted its stake in shares of Baker Hughes by 16.5% during the 1st quarter. Intermede Investment Partners Ltd now owns 4,284,361 shares of the company’s stock valued at $143,526,000 after purchasing an additional 606,671 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.
Insider Activity at Baker Hughes
In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction 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 directly owns 502,053 shares in the company, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on Baker Hughes
Baker Hughes Stock Performance
BKR stock opened at $37.49 on Thursday. The stock has a market capitalization of $37.41 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The stock’s 50 day simple moving average is $35.86 and its 200 day simple moving average is $34.46. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.
Baker Hughes (NASDAQ:BKR – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts forecast that Baker Hughes will post 2.25 earnings per share for the current fiscal year.
Baker Hughes Announces Dividend
The business also recently declared 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. The ex-dividend date is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.24%. Baker Hughes’s dividend payout ratio is presently 46.93%.
Baker Hughes 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.
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