Mirae Asset Global Investments Co. Ltd. Increases Stake in Baker Hughes Company $BKR

Mirae Asset Global Investments Co. Ltd. lifted its stake in Baker Hughes Company (NASDAQ:BKR) by 17.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 484,310 shares of the company’s stock after purchasing an additional 72,714 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Baker Hughes were worth $22,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BKR. Woodline Partners LP raised its position in shares of Baker Hughes by 40.8% in the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after purchasing an additional 24,225 shares during the last quarter. Focus Partners Wealth increased its holdings in Baker Hughes by 5.6% in the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after buying an additional 986 shares during the period. Jump Financial LLC acquired a new position in Baker Hughes in the 2nd quarter worth approximately $2,301,000. NewEdge Advisors LLC increased its holdings in Baker Hughes by 4.0% in the 2nd quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock worth $1,779,000 after buying an additional 1,768 shares during the period. Finally, Nebula Research & Development LLC acquired a new position in Baker Hughes in the 2nd quarter worth approximately $1,014,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore reiterated an “outperform” rating and issued a $68.00 price target on shares of Baker Hughes in a report on Wednesday, February 11th. Piper Sandler increased their price target on shares of Baker Hughes from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday. Capital One Financial increased their price target on shares of Baker Hughes from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Jefferies Financial Group increased their price target on shares of Baker Hughes from $59.00 to $67.00 and gave the stock a “buy” rating in a report on Saturday, January 31st. Finally, Barclays increased their price target on shares of Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.30.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 843 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total transaction of $47,494.62. Following the sale, the chief accounting officer owned 14,019 shares of the company’s stock, valued at $789,830.46. This trade represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total transaction of $298,919.52. Following the sale, the insider directly owned 15,555 shares in the company, valued at $918,367.20. The trade was a 24.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 590,251 shares of company stock worth $35,311,023 over the last 90 days. Company insiders own 0.19% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $59.78 on Friday. The stock has a market capitalization of $59.08 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 2.02 and a beta of 0.90. Baker Hughes Company has a 12 month low of $34.56 and a 12 month high of $67.00. The firm’s 50 day simple moving average is $61.07 and its 200-day simple moving average is $53.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The business had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. Analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is presently 35.38%.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.