Baker Hughes Company (NASDAQ:BKR) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Baker Hughes Company by 6.6%, now holding approximately 1,237,103 shares valued at about $54.37 million.
• CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes at an average price of $44.42, decreasing his ownership by 44.10%.
• Baker Hughes announced a quarterly dividend of $0.23 per share, resulting in an annualized yield of 2.1%, scheduled for payment on August 15th.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 6.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237,103 shares of the company's stock after selling 87,000 shares during the quarter. Baker Hughes accounts for approximately 0.7% of Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings, making the stock its 26th biggest holding. Fjarde AP Fonden Fourth Swedish National Pension Fund owned about 0.12% of Baker Hughes worth $54,371,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in shares of Baker Hughes in the 1st quarter valued at about $28,000. Golden State Wealth Management LLC increased its holdings in shares of Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after acquiring an additional 604 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Baker Hughes in the 1st quarter valued at approximately $30,000. Grove Bank & Trust increased its holdings in shares of Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after acquiring an additional 320 shares during the last quarter. Finally, Spire Wealth Management increased its holdings in shares of Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after acquiring an additional 465 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the 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 in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BKR shares. The Goldman Sachs Group lowered their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Seaport Res Ptn downgraded shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Industrial Alliance Securities set a $53.00 price objective on shares of Baker Hughes in a research report on Wednesday, July 30th. TD Cowen boosted their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, UBS Group reaffirmed a "neutral" rating and set a $46.00 price objective (up previously from $43.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $51.47.

Baker Hughes Stock Up 0.8%

BKR stock opened at $42.85 on Thursday. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. The firm has a market cap of $42.24 billion, a PE ratio of 14.00, a P/E/G ratio of 1.94 and a beta of 0.94. The firm has a 50 day simple moving average of $40.68 and a 200 day simple moving average of $40.85. 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 issued its quarterly 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 business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. The firm's quarterly revenue was down 3.2% on a year-over-year basis. Equities research 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 announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be given a $0.23 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.1%. Baker Hughes's dividend payout ratio 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.

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