AQR Capital Management LLC Raises Stock Position in Baker Hughes Company $BKR

Key Points

• AQR Capital Management LLC increased its investment in Baker Hughes Company shares by 27.8%, acquiring an additional 1,185,456 shares, bringing its total ownership to 5,457,164 shares valued at approximately $234.96 million.
• CEO Lorenzo Simonelli sold 526,568 shares for about $23.39 million, resulting in a significant decrease in his ownership stake.
• Baker Hughes reported earnings of $0.63 per share for the last quarter, surpassing analyst expectations, and the firm also announced a quarterly dividend of $0.23 per share.

AQR Capital Management LLC boosted its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 27.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,457,164 shares of the company's stock after buying an additional 1,185,456 shares during the quarter. AQR Capital Management LLC owned 0.55% of Baker Hughes worth $234,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its position in shares of Baker Hughes by 11.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,515 shares of the company's stock valued at $1,129,000 after purchasing an additional 2,919 shares during the last quarter. AXA S.A. grew its position in shares of Baker Hughes by 96.3% in the fourth quarter. AXA S.A. now owns 220,710 shares of the company's stock valued at $9,054,000 after purchasing an additional 108,261 shares during the last quarter. Aptus Capital Advisors LLC acquired a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $364,000. Benjamin Edwards Inc. grew its position in shares of Baker Hughes by 471.0% in the fourth quarter. Benjamin Edwards Inc. now owns 44,753 shares of the company's stock valued at $1,836,000 after purchasing an additional 36,916 shares during the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $3,737,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

Baker Hughes Trading Down 1.6%

NASDAQ:BKR traded down $0.74 during trading hours on Friday, reaching $45.58. 4,978,368 shares of the company were exchanged, compared to its average volume of 4,901,357. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The firm has a market cap of $44.94 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.08 and a beta of 1.01. Baker Hughes Company has a 52-week low of $32.25 and a 52-week high of $49.40. The stock has a 50 day simple moving average of $42.69 and a 200 day simple moving average of $40.60.

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

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 dividend on an annualized basis and a yield of 2.0%. Baker Hughes's dividend payout ratio (DPR) is currently 30.07%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Susquehanna upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. BMO Capital Markets reissued an "outperform" rating and set a $53.00 price objective (up previously from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Industrial Alliance Securities set a $53.00 price objective on shares of Baker Hughes in a research note on Wednesday, July 30th. Melius Research assumed coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Melius assumed coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They set a "buy" rating and a $60.00 price objective on the stock. Twenty investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.29.

Baker Hughes 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.