Vestmark Advisory Solutions Inc. Has $2.46 Million Position in Baker Hughes Company $BKR

Vestmark Advisory Solutions Inc. cut its position in shares of Baker Hughes Company (NASDAQ:BKR) by 50.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,201 shares of the company’s stock after selling 64,621 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Baker Hughes were worth $2,461,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Cetera Trust Company N.A grew its holdings in shares of Baker Hughes by 3.2% during the 2nd quarter. Cetera Trust Company N.A now owns 26,891 shares of the company’s stock worth $1,031,000 after purchasing an additional 845 shares in the last quarter. Achmea Investment Management B.V. lifted its position in Baker Hughes by 15.9% in the second quarter. Achmea Investment Management B.V. now owns 585,674 shares of the company’s stock worth $22,455,000 after purchasing an additional 80,202 shares during the period. Sienna Gestion boosted its stake in Baker Hughes by 11.0% during the second quarter. Sienna Gestion now owns 331,764 shares of the company’s stock worth $11,613,000 after buying an additional 32,987 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in Baker Hughes by 12.9% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 360,770 shares of the company’s stock valued at $13,817,000 after buying an additional 41,139 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Baker Hughes in the 2nd quarter valued at $804,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Up 1.2%

Shares of BKR opened at $47.87 on Monday. The company has a market capitalization of $47.24 billion, a P/E ratio of 16.51, a PEG ratio of 2.06 and a beta of 1.03. Baker Hughes Company has a one year low of $33.60 and a one year high of $50.92. The business’s 50 day simple moving average is $47.23 and its 200-day simple moving average is $42.47. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The firm had revenue of $5.09 billion during the quarter. As a group, sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Insider Activity

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the transaction, the chief accounting officer owned 11,772 shares in the company, valued at $588,600. This represents a 7.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm’s 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 completion of the sale, the executive vice president owned 40,520 shares of the company’s stock, valued at $2,026,000. The trade was a 38.16% decrease in their position. The SEC filing for this sale provides additional information. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BKR shares. Piper Sandler lifted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Morgan Stanley lifted their price objective on Baker Hughes from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Barclays upped their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Capital One Financial increased their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, UBS Group boosted their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Twenty-three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $53.29.

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.