Dimensional Fund Advisors LP cut its position in Baker Hughes Company (NASDAQ:BKR – Free Report) by 2.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 11,416,362 shares of the company’s stock after selling 344,619 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Baker Hughes were worth $696,988,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in Baker Hughes by 15.2% during the first quarter. Parallel Advisors LLC now owns 13,421 shares of the company’s stock valued at $819,000 after acquiring an additional 1,772 shares during the period. Resolute Wealth Strategies LLC increased its stake in shares of Baker Hughes by 2.7% in the first quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock worth $403,000 after purchasing an additional 172 shares during the period. KBC Group NV increased its stake in shares of Baker Hughes by 46.6% in the first quarter. KBC Group NV now owns 122,581 shares of the company’s stock worth $7,484,000 after purchasing an additional 38,949 shares during the period. Swiss National Bank lifted its position in shares of Baker Hughes by 7.2% during the 1st quarter. Swiss National Bank now owns 2,895,920 shares of the company’s stock worth $176,796,000 after purchasing an additional 195,600 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Baker Hughes by 2.5% during the 1st quarter. Jennison Associates LLC now owns 342,211 shares of the company’s stock worth $20,892,000 after purchasing an additional 8,365 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on BKR. Weiss Ratings lowered Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Susquehanna cut their price target on Baker Hughes from $80.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Royal Bank Of Canada increased their price objective on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Citigroup boosted their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.00.
Insiders Place Their Bets
In other Baker Hughes news, 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 transaction of $10,599,844.73. Following the sale, the chief executive officer owned 703,444 shares in the company, valued at $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the sale, the chief accounting officer directly owned 15,997 shares in the company, valued at $1,027,327.34. This trade represents a 24.13% decrease in their position. 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 sold 367,910 shares of company stock valued at $22,420,797 over the last 90 days. 0.19% of the stock is currently owned by corporate insiders.
Baker Hughes Stock Performance
Shares of BKR opened at $55.95 on Monday. Baker Hughes Company has a 12-month low of $38.97 and a 12-month high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $55.51 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 2.32 and a beta of 0.96. The stock’s 50-day moving average price is $60.85 and its 200 day moving average price is $59.63.
Baker Hughes (NASDAQ:BKR – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the company earned $0.51 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts predict that Baker Hughes Company will post 2.27 earnings per share for the current year.
Baker Hughes Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were paid a $0.23 dividend. 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%.
Baker Hughes Profile
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.
Recommended Stories
- Five stocks we like better than Baker Hughes
- Strait of Hormuz Tensions Spike Tanker Trade: These 2 Stocks Are Set to Benefit
- Shopify’s Quiet AI Strategy Could Be Its Biggest Advantage Yet
- Why These 3 Nuclear ETFs Are Getting a Fresh Look as AI Power Demand Rises
- 3 Aerospace Suppliers That Could Benefit as Aircraft Makers Face Bottlenecks
Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NASDAQ:BKR – Free Report).
Receive News & Ratings for Baker Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes and related companies with MarketBeat.com's FREE daily email newsletter.
