21,566 Shares in Baker Hughes Company $BKR Bought by 1248 Management LLC

Key Points

• 1248 Management LLC acquired 21,566 shares of Baker Hughes Company, valued at approximately $948,000, indicating significant investment interest in the firm.
• Baker Hughes CEO, Lorenzo Simonelli, sold 526,568 shares, reducing his position by 44.10%, with the company currently having 0.27% insider ownership.
• Equities analysts have mixed forecasts for Baker Hughes, with target price upgrades from several firms, resulting in a consensus rating of "Moderate Buy" and a target price of $52.29.

1248 Management LLC acquired a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,566 shares of the company's stock, valued at approximately $948,000.

Other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of Baker Hughes by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock valued at $27,314,000 after acquiring an additional 17,035 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Baker Hughes by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock valued at $1,075,000 after acquiring an additional 8,351 shares during the period. Principal Financial Group Inc. boosted its position in shares of Baker Hughes by 7.2% in the first quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company's stock valued at $54,462,000 after acquiring an additional 82,706 shares during the period. Stack Financial Management Inc bought a new position in shares of Baker Hughes in the first quarter valued at approximately $12,890,000. Finally, Johnson Investment Counsel Inc. bought a new position in shares of Baker Hughes in the first quarter valued at approximately $360,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Trading Down 1.6%

Shares of BKR traded down $0.74 during mid-day trading on Friday, reaching $45.58. The company's stock had a trading volume of 4,978,368 shares, compared to its average volume of 4,901,357. The stock has a market cap of $44.94 billion, a PE ratio of 14.90, a P/E/G ratio of 2.11 and a beta of 1.01. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40. The company's fifty day moving average price is $42.69 and its two-hundred day moving average price is $40.64.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.08. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The business's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's payout ratio is presently 30.07%.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the sale, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. The trade was a 44.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

BKR has been the subject of a number of analyst reports. Stifel Nicolaus cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. TD Cowen lifted their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Morgan Stanley lifted their target price on shares of Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Evercore ISI lifted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group set a $58.00 target price on shares of Baker Hughes in a research report on Wednesday, July 30th. Twenty research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $52.29.

About Baker Hughes

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.