Custom Index Systems LLC Grows Stake in Baker Hughes (NASDAQ:BKR)

Custom Index Systems LLC grew its holdings in shares of Baker Hughes (NASDAQ:BKR) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,727 shares of the company’s stock after purchasing an additional 681 shares during the period. Custom Index Systems LLC’s holdings in Baker Hughes were worth $315,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BKR. Wealth Enhancement Advisory Services LLC increased its stake in Baker Hughes by 8.5% during the 1st 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 in the last quarter. Diversified Trust Co lifted its position in Baker Hughes by 98.7% during the 1st quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock worth $1,676,000 after acquiring an additional 24,850 shares during the period. Redmont Wealth Advisors LLC purchased a new stake in Baker Hughes during the 1st quarter valued at about $27,000. Bourgeon Capital Management LLC increased its holdings in shares of Baker Hughes by 1.1% in the first quarter. Bourgeon Capital Management LLC now owns 217,860 shares of the company’s stock valued at $7,298,000 after purchasing an additional 2,441 shares during the period. Finally, Norden Group LLC purchased a new position in shares of Baker Hughes in the first quarter worth about $2,392,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 2.0 %

BKR stock opened at $37.52 on Monday. The business’s 50-day moving average is $35.70 and its 200 day moving average is $34.39. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The stock has a market cap of $37.44 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 0.61 and a beta of 1.38. 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) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. On average, sell-side analysts anticipate that Baker Hughes will post 2.25 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. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.24%. Baker Hughes’s payout ratio is presently 46.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group upped their target price on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Bank of America reduced their target price on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 15th. Evercore ISI upped their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Stifel Nicolaus upped their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

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.