Baker Hughes Company $BKR Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its Baker Hughes stake by 17.6% in Q4, adding 22,074 shares to hold 147,381 shares valued at about $6.71 million, and institutional investors now own roughly 92.06% of the stock.
• Wall Street consensus is a Moderate Buy (19 Buys, 2 Holds, 1 Sell) with a $69.18 average price target, and several analysts recently raised their price targets and ratings.
• CEO Lorenzo Simonelli sold 272,594 shares (~$16.0M) and insiders sold 569,400 shares (~$34.1M) in the last quarter, leaving insiders with just 0.19% ownership.

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 17.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 147,381 shares of the company's stock after acquiring an additional 22,074 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Baker Hughes were worth $6,712,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in BKR. Activest Wealth Management increased its holdings in Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company's stock valued at $26,000 after purchasing an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company's stock worth $32,000 after purchasing an additional 337 shares in the last quarter. JFS Wealth Advisors LLC boosted its position in shares of Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock worth $37,000 after buying an additional 252 shares during the period. Wolff Wiese Magana LLC boosted its position in shares of Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company's stock worth $38,000 after buying an additional 300 shares during the period. Finally, Spire Wealth Management grew its stake in shares of Baker Hughes by 357.8% in the third quarter. Spire Wealth Management now owns 1,021 shares of the company's stock valued at $50,000 after buying an additional 798 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Baker Hughes from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. BMO Capital Markets lifted their target price on Baker Hughes from $70.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, April 27th. Zephirin Group increased their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a "hold" rating in a research report on Monday, January 26th. Royal Bank Of Canada raised their price objective on shares of Baker Hughes from $68.00 to $71.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Finally, TD Cowen lifted their price objective on shares of Baker Hughes from $64.00 to $75.00 and gave the company a "buy" rating in a report on Monday, April 27th. Nineteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.18.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $63.53 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The company has a market cap of $63.02 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 2.42 and a beta of 0.97. The stock's 50-day moving average is $62.07 and its two-hundred day moving average is $54.87. Baker Hughes Company has a 1-year low of $35.83 and a 1-year high of $70.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data 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 return on equity of 14.17% and a net margin of 11.17%.The business had revenue of $6.59 billion during the quarter, compared to analysts' expectations of $6.71 billion. During the same quarter last year, the business posted $0.51 EPS. The business's quarterly revenue was up 2.5% compared to the same quarter last year. Analysts forecast that Baker Hughes Company will post 2.32 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the firm's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the sale, the chief executive officer directly owned 866,444 shares in the company, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Maria Georgia Magno sold 19,150 shares of the business's stock in a transaction on Monday, February 9th. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the transaction, the insider owned 14,588 shares of the company's stock, valued at approximately $862,296.68. The trade was a 56.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 569,400 shares of company stock valued at $34,120,287 in the last quarter. 0.19% of the stock is currently owned by company insiders.

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.

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