1248 Management LLC Acquires New Shares in Baker Hughes Company $BKR

Key Points

• 1248 Management LLC has acquired a new stake in Baker Hughes Company, purchasing 28,329 shares valued at approximately $1.25 million.
• Institutional investors hold 92.06% of Baker Hughes stock, with several firms like Vanguard Group and UBS Asset Management increasing their stakes significantly in the first quarter.
• Baker Hughes recently reported earnings of $0.63 per share, exceeding analyst expectations, along with a dividend yield of 2.0% following a declared quarterly dividend.

1248 Management LLC acquired a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 28,329 shares of the company's stock, valued at approximately $1,245,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Hawaiian Bank raised its holdings in shares of Baker Hughes by 28.0% during the first quarter. First Hawaiian Bank now owns 120,567 shares of the company's stock valued at $5,299,000 after acquiring an additional 26,404 shares in the last quarter. Birmingham Capital Management Co. Inc. AL raised its holdings in shares of Baker Hughes by 9.4% during the first quarter. Birmingham Capital Management Co. Inc. AL now owns 17,500 shares of the company's stock valued at $769,000 after acquiring an additional 1,500 shares in the last quarter. Strs Ohio bought a new position in shares of Baker Hughes during the first quarter valued at approximately $60,490,000. Mattson Financial Services LLC bought a new position in shares of Baker Hughes during the first quarter valued at approximately $1,612,000. Finally, Westbourne Investments Inc. bought a new position in shares of Baker Hughes during the first quarter valued at approximately $1,147,000. Institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Down 1.0%

Shares of NASDAQ BKR traded down $0.48 during trading on Friday, reaching $46.49. The company had a trading volume of 4,014,997 shares, compared to its average volume of 4,637,218. Baker Hughes Company has a 12-month low of $33.13 and a 12-month high of $49.40. The stock has a market cap of $45.83 billion, a PE ratio of 15.19, a P/E/G ratio of 2.12 and a beta of 1.01. The business's 50-day moving average is $43.40 and its 200 day moving average is $40.62. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

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

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid 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 of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio is currently 30.07%.

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the sale, the chief executive officer directly owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

BKR has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a report on Wednesday, July 2nd. Melius initiated coverage on Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 target price for the company. UBS Group reiterated a "neutral" rating and issued a $46.00 price objective (up previously from $43.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Seaport Res Ptn downgraded Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $53.00 price objective (up previously from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Twenty investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Baker Hughes has an average rating of "Moderate Buy" and a consensus target price of $52.29.

Baker Hughes Company 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.