Baker Hughes Company $BKR Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Baker Hughes Company (NASDAQ:BKR) by 19.0%, bringing its total ownership to 7,272,976 shares worth approximately $281 million.
• Institutional investors currently hold 92.06% of Baker Hughes's stock, indicating strong confidence in the company's market stability.
• Baker Hughes announced a quarterly dividend of $0.23 per share, yielding 2.0%, with a payout ratio of 30.07%.

Allspring Global Investments Holdings LLC boosted its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 19.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,272,976 shares of the company's stock after buying an additional 1,163,535 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.73% of Baker Hughes worth $281,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. Farther Finance Advisors LLC grew its position in Baker Hughes by 73.1% during the first quarter. Farther Finance Advisors LLC now owns 6,945 shares of the company's stock worth $311,000 after buying an additional 2,933 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Baker Hughes by 27.9% in the first quarter. GAMMA Investing LLC now owns 13,158 shares of the company's stock valued at $578,000 after purchasing an additional 2,872 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Baker Hughes by 158.2% in the first quarter. Assenagon Asset Management S.A. now owns 89,122 shares of the company's stock valued at $3,917,000 after purchasing an additional 54,610 shares in the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of Baker Hughes in the first quarter valued at about $360,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Baker Hughes by 7.2% in the first quarter. Fifth Third Bancorp now owns 46,007 shares of the company's stock valued at $2,022,000 after purchasing an additional 3,108 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Baker Hughes

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the executive vice president owned 40,520 shares of the company's stock, valued at approximately $2,026,000. This represents a 38.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the transaction, the chief accounting officer directly owned 11,772 shares of the company's stock, valued at $588,600. This trade represents a 7.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 553,068 shares of company stock valued at $24,712,651. Company insiders own 0.27% of the company's stock.

Baker Hughes Stock Performance

Shares of BKR opened at $45.04 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The company has a market capitalization of $44.40 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 2.05 and a beta of 0.99. The company's 50 day simple moving average is $45.93 and its 200 day simple moving average is $41.31. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $50.92.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The business 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%. On average, sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. Baker Hughes's dividend payout ratio is presently 30.07%.

Wall Street Analyst Weigh In

BKR has been the topic of several recent research reports. Jefferies Financial Group set a $58.00 price target on shares of Baker Hughes in a report on Wednesday, July 30th. Morgan Stanley upped their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $53.00 price target (up previously from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. UBS Group upped their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a "neutral" rating in a report on Monday, October 6th. Finally, Industrial Alliance Securities set a $53.00 price target on shares of Baker Hughes in a report on Wednesday, July 30th. Twenty-two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.57.

Baker Hughes Company 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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