Ameriprise Financial Inc. Sells 67,937 Shares of Baker Hughes Company $BKR

Key Points

• Ameriprise Financial Inc. has reduced its stake in Baker Hughes Company by 3.7%, owning 1,745,649 shares valued at approximately $76.7 million after selling 67,937 shares in the first quarter.
• CEO Lorenzo Simonelli sold a significant portion of his shares, totaling 526,568 shares for about $23.4 million, reducing his ownership by 44.10%.
• Baker Hughes has seen various hedge funds modify their holdings, with 92.06% of the company's stock now owned by institutional investors, while analysts are generally bullish, with an average rating of "Moderate Buy."

Ameriprise Financial Inc. lowered its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,745,649 shares of the company's stock after selling 67,937 shares during the period. Ameriprise Financial Inc. owned approximately 0.18% of Baker Hughes worth $76,714,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norinchukin Bank The raised its holdings in shares of Baker Hughes by 42.2% in the 1st quarter. Norinchukin Bank The now owns 93,542 shares of the company's stock valued at $4,111,000 after acquiring an additional 27,743 shares in the last quarter. CW Advisors LLC lifted its position in Baker Hughes by 5.1% in the 1st quarter. CW Advisors LLC now owns 353,527 shares of the company's stock worth $15,538,000 after buying an additional 17,016 shares during the last quarter. Kaufman Rossin Wealth LLC bought a new stake in Baker Hughes in the 1st quarter worth approximately $231,000. Candriam S.C.A. lifted its position in Baker Hughes by 1.6% in the 1st quarter. Candriam S.C.A. now owns 95,025 shares of the company's stock worth $4,176,000 after buying an additional 1,529 shares during the last quarter. Finally, Erste Asset Management GmbH lifted its position in Baker Hughes by 14.5% in the 1st quarter. Erste Asset Management GmbH now owns 32,850 shares of the company's stock worth $1,415,000 after buying an additional 4,150 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Down 0.4%

Shares of NASDAQ BKR traded down $0.16 during mid-day trading on Friday, hitting $45.40. 4,786,689 shares of the stock traded hands, compared to its average volume of 4,923,330. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40. The company has a market cap of $44.76 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.07 and a beta of 0.94. The stock has a fifty day moving average price of $41.94 and a 200-day moving average price of $40.63.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating 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 analyst estimates of $6.64 billion. During the same period in the previous year, the company posted $0.57 earnings per share. The firm's 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 anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

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

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the sale, the chief executive officer directly owned 667,593 shares in the company, valued at $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BKR has been the subject of a number of recent research reports. Barclays boosted their target price on Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Jefferies Financial Group set a $58.00 target price on Baker Hughes in a research report on Wednesday, July 30th. TD Cowen lifted their price target on Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. The Goldman Sachs Group lowered their price objective on Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Finally, Melius initiated coverage on Baker Hughes in a research note on Wednesday, August 20th. They set a "buy" rating and a $60.00 price objective for the company. Twenty analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.