B. Metzler seel. Sohn & Co. AG Acquires 42,723 Shares of Baker Hughes Company $BKR

B. Metzler seel. Sohn & Co. AG raised its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 22.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 232,646 shares of the company's stock after purchasing an additional 42,723 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Baker Hughes were worth $12,912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. OP Asset Management Ltd bought a new stake in Baker Hughes during the first quarter valued at $6,049,000. National Pension Service raised its position in shares of Baker Hughes by 5.1% in the 4th quarter. National Pension Service now owns 1,317,478 shares of the company's stock worth $59,998,000 after acquiring an additional 64,323 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Baker Hughes by 2.0% in the 4th quarter. Hsbc Holdings PLC now owns 1,892,101 shares of the company's stock worth $86,230,000 after acquiring an additional 37,473 shares in the last quarter. ABN AMRO Bank N.V. lifted its stake in shares of Baker Hughes by 6.5% in the 1st quarter. ABN AMRO Bank N.V. now owns 679,842 shares of the company's stock valued at $41,625,000 after purchasing an additional 41,657 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Baker Hughes by 60.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 83,059 shares of the company's stock valued at $3,783,000 after purchasing an additional 31,161 shares during the period. Institutional investors own 92.06% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings cut Baker Hughes from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, July 13th. Piper Sandler lifted their price objective on shares of Baker Hughes from $71.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Royal Bank Of Canada boosted their target price on shares of Baker Hughes from $71.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday, August 25th. Morgan Stanley initiated coverage on shares of Baker Hughes in a research note on Friday, August 7th. They set an "overweight" rating and a $70.00 target price on the stock. Finally, Jefferies Financial Group restated a "buy" rating on shares of Baker Hughes in a report on Thursday, July 9th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $70.67.

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the sale, the chief executive officer directly owned 703,444 shares of the company's stock, valued at $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.19% of the company's stock.

Baker Hughes Stock Performance

NASDAQ BKR opened at $64.63 on Thursday. The company has a fifty day simple moving average of $59.61 and a 200 day simple moving average of $61.53. Baker Hughes Company has a 12-month low of $43.92 and a 12-month high of $70.41. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. The company has a market cap of $64.16 billion, a P/E ratio of 20.85, a PEG ratio of 2.85 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The firm had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.54 billion. During the same period last year, the company earned $0.63 earnings per share. The business's revenue was up 2.4% on a year-over-year basis. Sell-side analysts predict that Baker Hughes Company will post 2.51 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, August 7th. Baker Hughes's payout ratio is currently 29.68%.

About Baker Hughes

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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