Baker Hughes Company $BKR Stock Position Increased by Aristotle Atlantic Partners LLC

Aristotle Atlantic Partners LLC lifted its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 15.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,825 shares of the company's stock after purchasing an additional 38,008 shares during the period. Aristotle Atlantic Partners LLC's holdings in Baker Hughes were worth $17,266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BKR. Bleakley Financial Group LLC boosted its stake in Baker Hughes by 0.6% in the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company's stock worth $1,556,000 after purchasing an additional 163 shares during the period. Resolute Wealth Strategies LLC grew its position in Baker Hughes by 2.7% during the 1st quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company's stock worth $403,000 after purchasing an additional 172 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in Baker Hughes by 10.5% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company's stock valued at $86,000 after purchasing an additional 179 shares during the period. Krilogy Financial LLC raised its stake in Baker Hughes by 3.2% during the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company's stock valued at $261,000 after purchasing an additional 180 shares during the period. Finally, 3Chopt Investment Partners LLC lifted its holdings in shares of Baker Hughes by 0.5% in the fourth quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company's stock valued at $1,944,000 after purchasing an additional 203 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BKR. Weiss Ratings cut Baker Hughes from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, July 13th. HSBC upped their price target on Baker Hughes from $67.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Jefferies Financial Group reissued a "buy" rating on shares of Baker Hughes in a research note on Thursday, July 9th. UBS Group raised their price objective on Baker Hughes from $69.00 to $73.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Finally, Wolfe Research began coverage on Baker Hughes in a research note on Wednesday, July 8th. They set an "outperform" rating and a $70.00 target price on the stock. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and an average price target of $70.00.

Baker Hughes Stock Up 2.1%

Shares of Baker Hughes stock opened at $57.25 on Friday. The firm has a market cap of $56.80 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.38 and a beta of 0.96. The stock has a 50-day simple moving average of $60.00 and a 200-day simple moving average of $59.89. Baker Hughes Company has a 52-week low of $41.96 and a 52-week high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm had revenue of $6.59 billion during the quarter, compared to analysts' expectations of $6.71 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The company's revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts expect that Baker Hughes Company will post 2.26 earnings per share for the current fiscal year.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the business's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the transaction, the chief executive officer owned 703,444 shares of the company's stock, valued at $41,102,232.92. The trade was a 20.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the sale, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is currently owned by insiders.

Baker Hughes Company 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.

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