ABN Amro Investment Solutions Grows Holdings in Baker Hughes Company $BKR

Key Points

• ABN Amro Investment Solutions increased its Baker Hughes stake by 21.9% in the fourth quarter, ending with 168,983 shares valued at about $7.7 million.
• Wall Street sentiment on Baker Hughes is mostly positive, with 18 Buy ratings, 3 Hold ratings, and 1 Sell rating; the consensus view is Moderate Buy with an average price target of $69.41.
• The company recently reported quarterly earnings of $0.58 per share, beating estimates, and also paid a $0.23 quarterly dividend for a 1.4% yield.

ABN Amro Investment Solutions increased its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 21.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 168,983 shares of the company's stock after purchasing an additional 30,362 shares during the quarter. ABN Amro Investment Solutions' holdings in Baker Hughes were worth $7,695,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BKR. Woodline Partners LP raised its position in Baker Hughes by 40.8% in the first quarter. Woodline Partners LP now owns 83,650 shares of the company's stock worth $3,676,000 after acquiring an additional 24,225 shares during the period. Focus Partners Wealth raised its position in Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company's stock worth $812,000 after acquiring an additional 986 shares during the period. Jump Financial LLC bought a new stake in Baker Hughes in the second quarter worth about $2,301,000. NewEdge Advisors LLC raised its position in Baker Hughes by 4.0% in the second quarter. NewEdge Advisors LLC now owns 46,407 shares of the company's stock worth $1,779,000 after acquiring an additional 1,768 shares during the period. Finally, Nebula Research & Development LLC bought a new stake in Baker Hughes in the second quarter worth about $1,014,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on BKR shares. Johnson Rice started coverage on shares of Baker Hughes in a research report on Wednesday, February 25th. They issued a "buy" rating and a $68.00 price objective on the stock. Zacks Research lowered shares of Baker Hughes from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. lifted their price objective on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an "overweight" rating in a research report on Monday, April 27th. 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 research report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Baker Hughes in a research report on Friday, April 24th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.41.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 272,594 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the transaction, the insider directly owned 15,555 shares of the company's stock, valued at approximately $918,367.20. This represents a 24.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 550,250 shares of company stock valued at $32,988,331. 0.19% of the stock is owned by corporate insiders.

Baker Hughes Stock Performance

NASDAQ BKR opened at $65.80 on Friday. The company's 50 day moving average is $62.66 and its 200-day moving average is $56.11. Baker Hughes Company has a 12-month low of $35.83 and a 12-month 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. The firm has a market cap of $65.28 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.37 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $6.71 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company's quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.4%. Baker Hughes's payout ratio is currently 29.39%.

Baker Hughes 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.

Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NASDAQ:BKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.