Baldwin Investment Management LLC Has $2.80 Million Stock Holdings in Baker Hughes Company (NASDAQ:BKR)

Key Points

• Baldwin Investment Management LLC increased its holdings in Baker Hughes by 28.7% during the first quarter, holding 63,727 shares valued at approximately $2.8 million.
• Baker Hughes CEO Lorenzo Simonelli sold over 526,000 shares in July, resulting in a 44.10% decrease in his stock position, worth around $29.65 million post-sale.
• Several research firms have revised their price targets for Baker Hughes, with a consensus target price now at $49.50 and a rating of "Moderate Buy".

Baldwin Investment Management LLC raised its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 28.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,727 shares of the company's stock after acquiring an additional 14,195 shares during the quarter. Baldwin Investment Management LLC's holdings in Baker Hughes were worth $2,801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BKR. LPL Financial LLC lifted its position in Baker Hughes by 57.7% during the fourth quarter. LPL Financial LLC now owns 289,414 shares of the company's stock valued at $11,872,000 after buying an additional 105,878 shares in the last quarter. Blair William & Co. IL increased its holdings in Baker Hughes by 14.9% in the 4th quarter. Blair William & Co. IL now owns 9,405 shares of the company's stock valued at $386,000 after purchasing an additional 1,223 shares in the last quarter. Level Four Advisory Services LLC raised its position in Baker Hughes by 124.8% in the fourth quarter. Level Four Advisory Services LLC now owns 17,225 shares of the company's stock valued at $707,000 after purchasing an additional 9,564 shares during the period. DnB Asset Management AS lifted its stake in shares of Baker Hughes by 1.7% during the fourth quarter. DnB Asset Management AS now owns 187,832 shares of the company's stock worth $7,705,000 after purchasing an additional 3,103 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Baker Hughes by 326.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,824 shares of the company's stock valued at $75,000 after buying an additional 1,396 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Baker Hughes stock traded down $0.80 during mid-day trading on Tuesday, hitting $45.75. The company's stock had a trading volume of 15,814,606 shares, compared to its average volume of 7,822,471. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. The stock's fifty day moving average price is $39.06 and its two-hundred day moving average price is $40.96. The stock has a market capitalization of $45.33 billion, a P/E ratio of 18.55, a P/E/G ratio of 5.76 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.08. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates 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 was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company 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. This represents a $0.92 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, August 5th. Baker Hughes's payout ratio is currently 30.07%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Evercore ISI decreased their price target on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group lowered their price target on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a report on Wednesday, July 2nd. Stifel Nicolaus decreased their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Morgan Stanley lifted their target price on Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Royal Bank Of Canada reduced their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and an average target price of $50.06.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction 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 directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.27% of the stock is owned by company insiders.

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.