Callan Family Office LLC Has $1.66 Million Stock Holdings in Baker Hughes Company (NASDAQ:BKR)

Key Points

• Callan Family Office LLC increased its stake in Baker Hughes Company by 20% during the 1st quarter, bringing its total holdings to 37,841 shares valued at approximately $1.66 million.
• CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock, reducing his ownership by 44.1% and still holding shares valued at about $29.65 million.
• Baker Hughes recently announced a quarterly dividend of $0.23, which will be paid to shareholders on August 15th, reflecting an annual yield of 2.2%.

Callan Family Office LLC grew its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,841 shares of the company's stock after buying an additional 6,309 shares during the quarter. Callan Family Office LLC's holdings in Baker Hughes were worth $1,663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prosperity Consulting Group LLC lifted its position in shares of Baker Hughes by 2.7% in 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 position in shares of Baker Hughes by 2.2% in 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. Commerce Bank lifted its position in shares of Baker Hughes by 1.0% in the fourth quarter. Commerce Bank now owns 31,075 shares of the company's stock worth $1,275,000 after purchasing an additional 300 shares in the last quarter. TCTC Holdings LLC lifted its position in shares of Baker Hughes by 7.7% in 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. Finally, Grove Bank & Trust raised its position in Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after acquiring an additional 320 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

BKR traded down $0.45 during trading on Friday, reaching $42.80. 6,566,692 shares of the company's stock were exchanged, compared to its average volume of 8,466,977. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $40.90 and a 200 day moving average price of $40.84. The company has a market capitalization of $42.20 billion, a P/E ratio of 13.99, a PEG ratio of 1.97 and a beta of 0.94.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued 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. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business 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 yield of 2.1%. Baker Hughes's dividend payout ratio is 30.07%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays raised their price objective on shares of Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. UBS Group reissued a "neutral" rating and issued a $46.00 price target (up previously from $43.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Morgan Stanley lifted their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Piper Sandler dropped their price target on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Susquehanna lifted their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $51.47.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

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.