Aberdeen Group plc Sells 1,178,966 Shares of Baker Hughes Company $BKR

Key Points

• Aberdeen Group plc reduced its stake in Baker Hughes by 32.2%, selling over 1.1 million shares and now owns about 2.48 million shares valued at $107 million.
• Several institutional investors have adjusted their stakes, including a 51.9% increase from China Universal Asset Management, highlighting a strong institutional interest in Baker Hughes.
• Baker Hughes announced a quarterly dividend of $0.23 per share, with a dividend yield of 2.1%, indicating a consistent commitment to shareholder returns.

Aberdeen Group plc cut its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 32.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,477,483 shares of the company's stock after selling 1,178,966 shares during the period. Aberdeen Group plc owned approximately 0.25% of Baker Hughes worth $107,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Baker Hughes by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company's stock worth $515,367,000 after purchasing an additional 175,495 shares during the period. Horizon Investments LLC lifted its position in Baker Hughes by 4.8% during the 1st quarter. Horizon Investments LLC now owns 14,262 shares of the company's stock worth $627,000 after buying an additional 653 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in Baker Hughes by 2.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 137,724 shares of the company's stock worth $6,053,000 after buying an additional 3,278 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its position in Baker Hughes by 89.3% during the 1st quarter. Cookson Peirce & Co. Inc. now owns 58,117 shares of the company's stock worth $2,554,000 after buying an additional 27,414 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its position in Baker Hughes by 111.3% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 128,822 shares of the company's stock worth $5,662,000 after buying an additional 67,856 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BKR shares. Morgan Stanley upped their target price on shares of Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. TD Cowen upped their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Piper Sandler lowered their price target on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Seaport Res Ptn cut shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Finally, Barclays increased their price target on shares of Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and a consensus target price of $51.47.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

Baker Hughes stock traded up $0.09 during mid-day trading on Tuesday, reaching $42.96. The company had a trading volume of 3,771,002 shares, compared to its average volume of 7,879,210. 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 current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The company has a market cap of $42.35 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.95 and a beta of 0.94. The business has a fifty day simple moving average of $40.99 and a 200 day simple moving average of $40.78.

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 (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. Baker Hughes's dividend payout ratio (DPR) is presently 30.07%.

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.