Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Baker Hughes Company $BKR

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,939,024 shares of the company’s stock after purchasing an additional 24,206 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Baker Hughes were worth $112,682,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Forum Financial Management LP increased its stake in shares of Baker Hughes by 1.4% during the second quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after acquiring an additional 233 shares during the period. Prosperity Consulting Group LLC boosted its holdings in Baker Hughes by 2.7% in the 1st quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company’s stock valued at $463,000 after purchasing an additional 278 shares in the last quarter. V Square Quantitative Management LLC increased its position in Baker Hughes by 1.4% during the 2nd quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock worth $834,000 after purchasing an additional 292 shares during the period. Greenleaf Trust increased its position in Baker Hughes by 2.2% during the 1st quarter. Greenleaf Trust now owns 13,852 shares of the company’s stock worth $609,000 after purchasing an additional 293 shares during the period. Finally, Moody National Bank Trust Division raised its stake in shares of Baker Hughes by 5.9% during the 2nd quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock worth $205,000 after buying an additional 296 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Down 3.3%

BKR stock opened at $47.30 on Friday. The company has a 50 day moving average price of $46.53 and a two-hundred day moving average price of $41.73. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The stock has a market capitalization of $46.63 billion, a P/E ratio of 16.31, a PEG ratio of 2.04 and a beta of 0.99. Baker Hughes Company has a one year low of $33.60 and a one year high of $50.92.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The company had revenue of $5.09 billion for the quarter. Baker Hughes had a return on equity of 14.41% and a net margin of 10.43%. As a group, sell-side analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $0.92 annualized dividend and a yield of 1.9%. Baker Hughes’s payout ratio is 31.72%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BKR shares. Industrial Alliance Securities set a $53.00 price target on Baker Hughes in a research note on Wednesday, July 30th. Morgan Stanley upped their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Evercore ISI raised their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. TD Cowen increased their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Zephirin Group boosted their price target on Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Twenty-one equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.91.

Insider Transactions at Baker Hughes

In other news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the transaction, the executive vice president directly owned 40,520 shares in the company, valued at $2,026,000. This represents a 38.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief accounting officer owned 11,772 shares of the company’s stock, valued at approximately $588,600. The trade was a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.27% 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.