39,066 Shares in Baker Hughes Company $BKR Bought by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC acquired 39,066 shares of Baker Hughes Company, valued at approximately $1.716 million, marking the firm's first investment in the company.
• CEO Lorenzo Simonelli sold over 526,000 shares, decreasing his ownership by 44.1%, while the stock remained under significant institutional ownership of 92.06%.
• Research analysts have given Baker Hughes a consensus rating of 'Moderate Buy' with an average price target of $52.29, reflecting a generally positive outlook on the company.

Belpointe Asset Management LLC purchased a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 39,066 shares of the company's stock, valued at approximately $1,716,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in Baker Hughes during the 1st quarter worth $28,000. Golden State Wealth Management LLC boosted its position in Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after buying an additional 604 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in Baker Hughes in the 1st quarter valued at about $30,000. Grove Bank & Trust boosted its position in Baker Hughes by 76.2% in the 1st 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 last quarter. Finally, Spire Wealth Management boosted its position in Baker Hughes by 132.9% in the 1st 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 last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction dated 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 in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BKR. Seaport Res Ptn cut shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 29th. BMO Capital Markets reissued an "outperform" rating and issued a $53.00 price objective (up from $46.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Evercore ISI upped 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. Melius began coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price objective for the company. Finally, Susquehanna upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.29.

Baker Hughes Stock Performance

Shares of BKR stock opened at $46.92 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The company's 50-day simple moving average is $43.12 and its 200-day simple moving average is $40.63. The stock has a market capitalization of $46.26 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 2.07 and a beta of 1.01.

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

Baker Hughes Dividend Announcement

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

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.

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