Baker Hughes Company $BKR Shares Purchased by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in Baker Hughes by 12.7% in Q4, buying 309,996 shares to hold 2,755,743 shares (about 0.28% of the company) valued at roughly $125.8 million.
• Company insiders sold a total of 590,251 shares worth about $35.31 million over the past three months (insider ownership is just 0.27%), including sales by CAO Rebecca L. Charlton and Maria Georgia Magno.
• Baker Hughes beat Q4 EPS estimates ($0.78 vs. $0.67) on $7.39 billion in revenue, recently paid a $0.23 quarterly dividend (≈1.5% yield), and carries a MarketBeat consensus of "Moderate Buy" with an average target of $59.61.

Nordea Investment Management AB raised its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 12.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,755,743 shares of the company's stock after buying an additional 309,996 shares during the quarter. Nordea Investment Management AB owned approximately 0.28% of Baker Hughes worth $125,813,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Activest Wealth Management lifted its holdings in shares of Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company's stock worth $26,000 after acquiring an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its position 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 during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Baker Hughes during the second quarter worth approximately $36,000. Spire Wealth Management raised its stake in Baker Hughes by 357.8% during the third quarter. Spire Wealth Management now owns 1,021 shares of the company's stock worth $50,000 after purchasing an additional 798 shares during the period. Finally, N.E.W. Advisory Services LLC boosted its holdings in shares of Baker Hughes by 60.6% in the 3rd quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company's stock valued at $54,000 after purchasing an additional 416 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Insider Buying and Selling

In related news, CAO Rebecca L. Charlton sold 843 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total transaction of $47,494.62. Following the transaction, the chief accounting officer directly owned 14,019 shares of the company's stock, valued at approximately $789,830.46. The trade was a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider owned 15,555 shares of the company's stock, valued at approximately $918,367.20. This represents a 24.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 590,251 shares of company stock worth $35,311,023 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Performance

Shares of BKR stock opened at $60.35 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The company has a market cap of $59.64 billion, a PE ratio of 23.21, a P/E/G ratio of 1.63 and a beta of 0.83. The company's fifty day simple moving average is $58.17 and its 200-day simple moving average is $51.29. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $67.00.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm had revenue of $7.39 billion during the quarter, compared to analysts' expectations of $7.09 billion. During the same period in the prior year, the company earned $0.70 EPS. The firm's revenue was up .3% on a year-over-year basis. As a group, equities research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Baker Hughes's dividend payout ratio is presently 35.38%.

Wall Street Analyst Weigh In

BKR has been the subject of a number of research analyst reports. Johnson Rice assumed coverage on Baker Hughes in a report on Wednesday, February 25th. They set a "buy" rating and a $68.00 price objective for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Baker Hughes in a report on Monday, December 29th. Royal Bank Of Canada restated an "outperform" rating and set a $57.00 price target on shares of Baker Hughes in a research note on Thursday, January 15th. Citigroup raised their price objective on Baker Hughes from $61.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, January 27th. Finally, Stifel Nicolaus lifted their price objective on Baker Hughes from $58.00 to $63.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Twenty research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.61.

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.

Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NASDAQ:BKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.