Bar Harbor Wealth Management Sells 166,762 Shares of Baker Hughes Company $BKR

Key Points

• Bar Harbor Wealth Management decreased its stake in Baker Hughes Company by 74.5%, selling 166,762 shares in the second quarter, leaving it with 57,093 shares valued at approximately $2.19 million.
• Baker Hughes received numerous analyst coverage updates, with twenty-two analysts giving it a Buy rating and an average price target of $52.22.
• The company announced a quarterly dividend of $0.23 per share, yielding 1.9%, with a dividend payout ratio of 30.07%.

Bar Harbor Wealth Management lessened its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 74.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,093 shares of the company's stock after selling 166,762 shares during the quarter. Bar Harbor Wealth Management's holdings in Baker Hughes were worth $2,189,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS lifted its stake in shares of Baker Hughes by 3.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 410,318 shares of the company's stock worth $15,732,000 after acquiring an additional 15,300 shares during the last quarter. SteelPeak Wealth LLC purchased a new stake in shares of Baker Hughes in the second quarter worth about $2,739,000. Drake & Associates LLC boosted its stake in shares of Baker Hughes by 78.7% in the second quarter. Drake & Associates LLC now owns 67,279 shares of the company's stock worth $2,579,000 after buying an additional 29,626 shares during the last quarter. Valley National Advisers Inc. raised its holdings in Baker Hughes by 2.1% in the 2nd quarter. Valley National Advisers Inc. now owns 28,267 shares of the company's stock worth $1,083,000 after purchasing an additional 593 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Baker Hughes during the second quarter valued at approximately $303,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of analyst reports. Melius started coverage on Baker Hughes in a research report on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price target for the company. Industrial Alliance Securities set a $53.00 price objective on Baker Hughes in a research note on Wednesday, July 30th. Susquehanna raised their price target on Baker Hughes from $52.00 to $56.00 and gave the company a "positive" rating in a research note on Thursday, October 2nd. BMO Capital Markets reaffirmed an "outperform" rating and set a $53.00 price objective (up previously from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Finally, Stifel Nicolaus lowered their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Twenty-two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of "Moderate Buy" and an average price target of $52.22.

Insider Activity

In other Baker Hughes news, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive vice president owned 40,520 shares of the company's stock, valued at $2,026,000. This trade represents a 38.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief accounting officer directly owned 11,772 shares of the company's stock, valued at approximately $588,600. The trade was a 7.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 553,068 shares of company stock worth $24,712,651 over the last three months. Corporate insiders own 0.27% of the company's stock.

Baker Hughes Stock Down 1.5%

Shares of Baker Hughes stock opened at $47.85 on Thursday. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $50.92. 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 stock has a market cap of $47.17 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a fifty day moving average price of $45.85 and a 200 day moving average price of $41.32.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The business had revenue of $6.91 billion for 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 for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a $0.23 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes's dividend payout ratio (DPR) is 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.

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