ABN AMRO Bank N.V. Purchases Shares of 638,185 Baker Hughes Company $BKR

Key Points

• ABN AMRO Bank N.V. bought a new stake in Baker Hughes during the fourth quarter, purchasing 638,185 shares worth about $29.3 million.
• Institutional ownership remains very high, with 92.06% of Baker Hughes shares held by institutional investors. Several major firms, including Vanguard and Capital World Investors, also increased their holdings recently.
• Baker Hughes reported better-than-expected earnings of $0.58 per share for the latest quarter, and analysts have mostly positive views with a consensus rating of Moderate Buy and an average price target of $69.18.

ABN AMRO Bank N.V. purchased a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 638,185 shares of the company's stock, valued at approximately $29,266,000. ABN AMRO Bank N.V. owned 0.06% of Baker Hughes at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Baker Hughes by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company's stock valued at $6,035,924,000 after purchasing an additional 598,159 shares during the period. Capital World Investors boosted its holdings in Baker Hughes by 7.1% in the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company's stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares during the period. Capital Research Global Investors boosted its holdings in Baker Hughes by 7.1% in the 3rd quarter. Capital Research Global Investors now owns 25,903,241 shares of the company's stock valued at $1,262,033,000 after purchasing an additional 1,728,016 shares during the period. Artisan Partners Limited Partnership boosted its holdings in Baker Hughes by 3.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company's stock valued at $843,653,000 after purchasing an additional 638,640 shares during the period. Finally, Capital International Investors bought a new position in Baker Hughes in the 3rd quarter valued at $729,670,000. 92.06% of the stock is owned by institutional investors.

Insider Transactions at Baker Hughes

In other Baker Hughes news, insider Maria Georgia Magno sold 5,063 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the transaction, the insider owned 15,555 shares in the company, valued at approximately $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the transaction, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. The trade was a 23.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 550,250 shares of company stock worth $32,988,331 in the last 90 days. Corporate insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Capital One Financial lifted their price objective on shares of Baker Hughes from $60.00 to $66.00 and gave the stock an "overweight" rating in a report on Friday, April 10th. Piper Sandler lifted their price objective on shares of Baker Hughes from $64.00 to $72.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. iA Financial set a $60.00 price objective on shares of Baker Hughes in a report on Tuesday, January 27th. HSBC lifted their price objective on shares of Baker Hughes from $67.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Finally, BMO Capital Markets lifted their price objective on shares of Baker Hughes from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $69.18.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $63.86 on Monday. The stock has a market cap of $63.35 billion, a PE ratio of 20.40, a PEG ratio of 2.32 and a beta of 0.97. The company's fifty day moving average is $62.07 and its 200 day moving average is $54.87. Baker Hughes Company has a 52 week low of $35.83 and a 52 week high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $6.71 billion. During the same quarter last year, the company earned $0.51 EPS. The firm's revenue was up 2.5% compared to the same quarter last year. Research analysts anticipate that Baker Hughes Company will post 2.32 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th will be given a $0.23 dividend. The ex-dividend date is Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes's payout ratio is presently 29.39%.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm's roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE's oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.

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