MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $36.02 Million Stake in Baker Hughes Company $BKR

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Baker Hughes Company by 13.1% during the first quarter, now owning approximately 819,643 shares valued at $36 million.
• Baker Hughes reported $0.63 earnings per share for the quarter, exceeding consensus estimates and generating revenue of $6.91 billion, although down 3.2% year-over-year.
• The company announced a quarterly dividend of $0.23, yielding 2.0% annually, with a payout ratio currently at 30.07%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 13.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 819,643 shares of the company's stock after buying an additional 94,892 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.08% of Baker Hughes worth $36,023,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of Baker Hughes in the first quarter worth $404,385,000. Pacer Advisors Inc. grew its position in shares of Baker Hughes by 2,585.6% in the 1st quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company's stock valued at $169,511,000 after buying an additional 3,713,301 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Baker Hughes during the 4th quarter worth $128,542,000. 1832 Asset Management L.P. acquired a new stake in shares of Baker Hughes in the 1st quarter worth $70,685,000. Finally, AQR Capital Management LLC increased its holdings in Baker Hughes by 27.8% during the 1st quarter. AQR Capital Management LLC now owns 5,457,164 shares of the company's stock valued at $234,958,000 after acquiring an additional 1,185,456 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a report on Thursday, July 24th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $53.00 target price (up from $46.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Seaport Res Ptn downgraded shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Barclays lifted their price objective on Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Evercore ISI lifted their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Twenty analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.29.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the sale, the chief executive officer directly owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. The trade was a 44.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded down $0.19 during mid-day trading on Tuesday, reaching $45.45. The stock had a trading volume of 3,338,098 shares, compared to its average volume of 4,864,728. The company has a market cap of $44.81 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 2.08 and a beta of 1.01. Baker Hughes Company has a 1 year low of $32.25 and a 1 year high of $49.40. The business's 50 day moving average price is $42.98 and its 200 day moving average price is $40.59. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same period last year, the business posted $0.57 EPS. Baker Hughes's quarterly revenue was down 3.2% on a year-over-year basis. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

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.