Bessemer Group Inc. lifted its stake in Baker Hughes Company (NASDAQ:BKR – Free Report) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,565,158 shares of the company’s stock after acquiring an additional 73,836 shares during the period. Bessemer Group Inc. owned approximately 0.36% of Baker Hughes worth $217,652,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp grew its position in Baker Hughes by 1.6% in the 4th quarter. State Street Corp now owns 61,409,438 shares of the company’s stock worth $2,796,586,000 after purchasing an additional 937,614 shares during the last quarter. Cardano Risk Management B.V. lifted its position in shares of Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock worth $2,247,550,000 after acquiring an additional 44,887,481 shares during the period. Geode Capital Management LLC grew its holdings in shares of Baker Hughes by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock worth $1,189,194,000 after purchasing an additional 204,534 shares in the last quarter. Norges Bank bought a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $1,022,491,000. Finally, Capital International Investors raised its stake in shares of Baker Hughes by 6.4% in the fourth quarter. Capital International Investors now owns 15,933,590 shares of the company’s stock valued at $725,616,000 after purchasing an additional 956,808 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.
Insider Activity at Baker Hughes
In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the sale, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 367,910 shares of company stock worth $22,420,797 over the last three months. 0.19% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Read Our Latest Analysis on BKR
Baker Hughes Price Performance
Shares of BKR stock opened at $56.54 on Friday. Baker Hughes Company has a 52 week low of $38.47 and a 52 week high of $70.41. The stock has a market capitalization of $56.09 billion, a PE ratio of 18.06, a PEG ratio of 2.08 and a beta of 0.96. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The stock’s fifty day moving average is $61.01 and its 200-day moving average is $59.56.
Baker Hughes (NASDAQ:BKR – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 earnings per share. Equities research analysts expect that Baker Hughes Company will post 2.27 EPS for the current fiscal year.
Baker Hughes Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is presently 29.39%.
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.
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