Birmingham Capital Management Co. Inc. AL Takes $313,000 Position in Baker Hughes Company (NYSE:BKR)

Birmingham Capital Management Co. Inc. AL purchased a new position in shares of Baker Hughes Company (NYSE:BKR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,500 shares of the company’s stock, valued at approximately $313,000.

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Other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Baker Hughes during the third quarter worth $64,560,000. Poplar Forest Capital LLC purchased a new position in shares of Baker Hughes during the third quarter worth $40,367,000. Eagle Asset Management Inc. purchased a new position in shares of Baker Hughes during the third quarter worth $38,260,000. Carillon Tower Advisers Inc. purchased a new position in shares of Baker Hughes during the third quarter worth $30,230,000. Finally, California Public Employees Retirement System purchased a new position in shares of Baker Hughes during the third quarter worth $23,149,000. 97.54% of the stock is owned by institutional investors and hedge funds.

BKR stock traded up $0.85 during trading on Wednesday, hitting $22.17. The company had a trading volume of 4,406,584 shares, compared to its average volume of 5,183,515. The stock has a market capitalization of $22.02 billion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 3.17 and a beta of 0.98. Baker Hughes Company has a 1-year low of $20.09 and a 1-year high of $28.65. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.18.

Baker Hughes (NYSE:BKR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.03). The business had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $6.11 billion. Baker Hughes had a net margin of 0.89% and a return on equity of 1.19%. Baker Hughes’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. Analysts expect that Baker Hughes Company will post 0.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.72 annualized dividend and a dividend yield of 3.25%. Baker Hughes’s dividend payout ratio is currently 109.09%.

BKR has been the subject of a number of recent research reports. Zacks Investment Research lowered Baker Hughes from a “hold” rating to a “strong sell” rating in a report on Friday, November 8th. TheStreet lowered Baker Hughes from a “c-” rating to a “d” rating in a report on Monday, October 21st. Barclays reiterated a “buy” rating and issued a $28.00 target price on shares of Baker Hughes in a report on Friday, November 1st. Deutsche Bank assumed coverage on Baker Hughes in a report on Wednesday, November 27th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Susquehanna Bancshares upgraded Baker Hughes from a “neutral” rating to a “positive” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company. Baker Hughes currently has an average rating of “Hold” and an average target price of $30.00.

In other Baker Hughes news, insider William D. Marsh sold 6,136 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.15, for a total value of $135,912.40. Following the completion of the transaction, the insider now directly owns 39,504 shares in the company, valued at approximately $875,013.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William D. Marsh sold 5,857 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $22.65, for a total value of $132,661.05. Following the completion of the transaction, the insider now owns 33,647 shares of the company’s stock, valued at $762,104.55. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

About Baker Hughes

Baker Hughes Company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas and oilfield service companies.

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Institutional Ownership by Quarter for Baker Hughes (NYSE:BKR)

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