Baker Hughes Company (NASDAQ:BKR) Stock Holdings Boosted by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Baker Hughes Company (NASDAQ:BKR) by 2.7% during the 1st quarter, owning over 10.79 million shares valued at approximately $474 million.
• Baker Hughes reported a quarterly earnings per share (EPS) of $0.63, exceeding analysts' expectations of $0.55, despite a 3.2% decline in revenue year-over-year.
• The company announced a $0.23 quarterly dividend with an annual yield of 2.1%, set to be paid to shareholders on August 15th.

Invesco Ltd. raised its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,790,132 shares of the company's stock after purchasing an additional 283,454 shares during the period. Invesco Ltd. owned approximately 1.09% of Baker Hughes worth $474,226,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Wayfinding Financial LLC acquired a new stake in shares of Baker Hughes during the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC lifted its stake in Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after buying an additional 604 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in Baker Hughes in the first quarter valued at approximately $30,000. Grove Bank & Trust lifted its position in shares of Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after purchasing an additional 320 shares in the last quarter. Finally, Spire Wealth Management lifted its position in shares of Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after purchasing an additional 465 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the sale, the chief executive officer owned 667,593 shares of the company's stock, valued at $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded up $0.34 during trading on Wednesday, reaching $42.85. The stock had a trading volume of 5,269,440 shares, compared to its average volume of 8,581,709. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40. The stock has a market cap of $42.24 billion, a PE ratio of 14.00, a PEG ratio of 1.94 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The business has a fifty day moving average price of $40.57 and a 200-day moving average price of $40.83.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) 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 firm 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 business earned $0.57 EPS. The company's quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is presently 30.07%.

Wall Street Analyst Weigh In

BKR has been the topic of a number of recent analyst reports. Susquehanna boosted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Evercore ISI raised their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Barclays raised their price target on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Royal Bank Of Canada decreased their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Piper Sandler cut their target price 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. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $51.47.

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.