Baker Hughes Company $BKR Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in Baker Hughes by 31.6%, selling 142,019 shares, leaving it with 307,911 shares worth approximately $11.8 million.
• Research analysts are optimistic about Baker Hughes, with Barclays and Morgan Stanley raising their price targets, while the stock maintains a consensus rating of "Moderate Buy" and an average target price of $52.32.
• Insider trading activity has seen significant sales, with insiders offloading 553,068 shares valued at about $24.7 million over the last quarter, highlighting potential concerns about the company's future outlook.

Public Employees Retirement System of Ohio cut its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 31.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 307,911 shares of the company's stock after selling 142,019 shares during the period. Public Employees Retirement System of Ohio's holdings in Baker Hughes were worth $11,805,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Prosperity Consulting Group LLC lifted its stake in Baker Hughes by 2.7% during the first quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company's stock worth $463,000 after purchasing an additional 278 shares in the last quarter. Greenleaf Trust lifted its stake in Baker Hughes by 2.2% during the first quarter. Greenleaf Trust now owns 13,852 shares of the company's stock worth $609,000 after purchasing an additional 293 shares in the last quarter. Moody National Bank Trust Division lifted its stake in Baker Hughes by 5.9% during the second quarter. Moody National Bank Trust Division now owns 5,351 shares of the company's stock worth $205,000 after purchasing an additional 296 shares in the last quarter. City Center Advisors LLC lifted its stake in Baker Hughes by 3.6% during the second quarter. City Center Advisors LLC now owns 8,486 shares of the company's stock worth $325,000 after purchasing an additional 298 shares in the last quarter. Finally, TCTC Holdings LLC lifted its stake in Baker Hughes by 7.7% during the first quarter. TCTC Holdings LLC now owns 4,219 shares of the company's stock worth $185,000 after purchasing an additional 301 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays upped their price target on Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Seaport Res Ptn cut Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Morgan Stanley upped their price target on Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Melius assumed coverage on Baker Hughes in a research note on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, Melius Research assumed coverage on Baker Hughes in a research note on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price objective on the stock. Twenty-one research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Baker Hughes has an average rating of "Moderate Buy" and a consensus price target of $52.32.

Insider Activity at Baker Hughes

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

Baker Hughes Stock Performance

NASDAQ:BKR opened at $50.52 on Friday. The firm has a market capitalization of $49.81 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The business's fifty day moving average price is $45.13 and its 200 day moving average price is $41.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $50.93.

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

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio is 30.07%.

About Baker Hughes

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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