1832 Asset Management L.P. Purchases Shares of 1,608,300 Baker Hughes Company $BKR

Key Points

• 1832 Asset Management L.P. has invested approximately $70.69 million in Baker Hughes Company, acquiring 1,608,300 shares, representing about 0.16% of the company.
• Baker Hughes reported a 3.0% increase in stock prices and beat earnings estimates with $0.63 EPS for the quarter, exceeding projections of $0.55.
• The company recently declared a quarterly dividend of $0.23 per share, with a dividend yield of 2.1%, indicating a payout ratio of 30.07%.

1832 Asset Management L.P. acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,608,300 shares of the company's stock, valued at approximately $70,685,000. 1832 Asset Management L.P. owned 0.16% of Baker Hughes as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in shares of Baker Hughes during the first quarter worth approximately $28,000. Golden State Wealth Management LLC boosted its holdings in shares of Baker Hughes by 678.7% during the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after acquiring an additional 604 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of Baker Hughes in the first quarter valued at approximately $30,000. Grove Bank & Trust boosted its stake in shares of Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after buying an additional 320 shares during the period. Finally, Spire Wealth Management boosted its stake in shares of Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after buying an additional 465 shares during the period. Institutional investors own 92.06% of the company's stock.

Baker Hughes Trading Up 0.7%

NASDAQ BKR traded up $0.33 on Wednesday, reaching $44.78. The company had a trading volume of 3,523,445 shares, compared to its average volume of 7,763,521. The firm has a market cap of $44.15 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 2.03 and a beta of 0.94. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40. The business has a 50 day moving average of $41.56 and a two-hundred day moving average of $40.67. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

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

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.1%. Baker Hughes's dividend payout ratio is 30.07%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BKR shares. Morgan Stanley boosted their price target on Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Evercore ISI boosted their price objective 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. Seaport Res Ptn downgraded shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 29th. BMO Capital Markets reiterated an "outperform" rating and set a $53.00 price target (up from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Finally, Industrial Alliance Securities set a $53.00 price target on shares of Baker Hughes in a report on Wednesday, July 30th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.29.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the sale, the chief executive officer 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.27% of the company's stock.

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.