Baker Hughes Company $BKR Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. reduced its stake in Baker Hughes by 16.9%, selling over 25,000 shares and bringing its total ownership to 125,793 shares, valued at approximately $5.6 million.
• Baker Hughes announced a quarterly dividend of $0.23 per share, yielding 2.1% annually, and is currently in a strong position with 92.06% of its stock owned by institutional investors.
• Analyst reports have given Baker Hughes a consensus rating of "Moderate Buy" with an average target price of $51.47, following various adjustments by multiple investment firms.

Ethic Inc. cut its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 16.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,793 shares of the company's stock after selling 25,632 shares during the quarter. Ethic Inc.'s holdings in Baker Hughes were worth $5,636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in Baker Hughes in the 1st quarter valued at about $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 purchasing an additional 604 shares during the last quarter. N.E.W. Advisory Services LLC purchased 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% during the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after acquiring an additional 320 shares in the last quarter. Finally, Spire Wealth Management increased its holdings 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 during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Seaport Res Ptn lowered shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Susquehanna raised their price objective 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. Piper Sandler decreased their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Industrial Alliance Securities set a $53.00 price target on shares of Baker Hughes in a research report on Wednesday, July 30th. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.47.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 approximately $29,654,481.06. This represents a 44.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

Shares of Baker Hughes stock traded up $0.08 during trading hours on Tuesday, reaching $42.95. The company's stock had a trading volume of 3,790,160 shares, compared to its average volume of 7,889,371. The stock has a market cap of $42.34 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.95 and a beta of 0.94. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The firm has a 50 day moving average price of $40.99 and a 200-day moving average price of $40.78. 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 (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The company's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's dividend payout ratio is currently 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.