Aberdeen Group plc Has $71.52 Million Holdings in Baker Hughes Company $BKR

Key Points

• Aberdeen Group plc reduced its stake in Baker Hughes Company by 25.5%, now holding 1,844,983 shares worth approximately $71.52 million.
• Several analysts have recently raised their price targets for Baker Hughes, with a consensus rating of "Moderate Buy" and an average price target of $52.57.
• The company declared a quarterly dividend of $0.23, resulting in an annualized yield of 2.0%.

Aberdeen Group plc cut its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 25.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,844,983 shares of the company's stock after selling 632,500 shares during the period. Aberdeen Group plc owned 0.19% of Baker Hughes worth $71,521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in Baker Hughes in the first quarter valued at about $28,000. N.E.W. Advisory Services LLC bought a new stake in Baker Hughes during the 1st quarter worth about $30,000. Golden State Wealth Management LLC grew its holdings in Baker Hughes by 678.7% during the 1st 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 last quarter. Grove Bank & Trust increased 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 acquiring an additional 320 shares in the last quarter. Finally, Spire Wealth Management lifted its position in shares of Baker Hughes by 132.9% during the first quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after purchasing an additional 465 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on BKR. Royal Bank Of Canada increased their price target on shares of Baker Hughes from $50.00 to $54.00 and gave the company an "outperform" rating in a research note on Thursday. Jefferies Financial Group set a $58.00 price target on shares of Baker Hughes in a research note on Wednesday, July 30th. Morgan Stanley increased their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $52.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, September 30th. Finally, Barclays increased their price target on shares of Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Twenty-two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $52.57.

Baker Hughes Stock Down 6.0%

Shares of NASDAQ BKR opened at $45.04 on Friday. The firm has a market capitalization of $44.40 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 2.05 and a beta of 0.99. 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 1 year low of $33.60 and a 1 year high of $50.92. The firm's 50-day moving average is $45.93 and its 200-day moving average is $41.33.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $5.09 billion for the quarter. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. Equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were given 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 dividend payout ratio (DPR) is currently 30.07%.

Insider Activity at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the sale, the chief accounting officer directly owned 11,772 shares in the company, valued at $588,600. This trade represents a 7.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. Insiders have sold 553,068 shares of company stock worth $24,712,651 in the last ninety days. Company insiders own 0.27% of the company's stock.

Baker Hughes 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.

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