Baxter Bros Inc. Grows Stock Holdings in Baker Hughes Company $BKR

Key Points

• Baxter Bros Inc. increased its stake in Baker Hughes Company by 100%, acquiring an additional 21,815 shares to hold a total of 43,640 shares, worth approximately $1,673,000.
• Baker Hughes CEO Lorenzo Simonelli sold 526,568 shares valued at over $23 million, reducing his ownership by 44.10% to 667,593 shares.
• Wall Street analysts generally maintain a positive outlook on Baker Hughes, with a consensus rating of "Moderate Buy" and a target price of around $52.22 per share.

Baxter Bros Inc. boosted its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 100.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,640 shares of the company's stock after purchasing an additional 21,815 shares during the quarter. Baxter Bros Inc.'s holdings in Baker Hughes were worth $1,673,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Miracle Mile Advisors LLC bought a new position in Baker Hughes during the first quarter valued at $317,000. Park Avenue Securities LLC increased its position in Baker Hughes by 22.6% during the first quarter. Park Avenue Securities LLC now owns 28,149 shares of the company's stock valued at $1,237,000 after acquiring an additional 5,192 shares during the last quarter. Farther Finance Advisors LLC increased its position in Baker Hughes by 73.1% during the first quarter. Farther Finance Advisors LLC now owns 6,945 shares of the company's stock valued at $311,000 after acquiring an additional 2,933 shares during the last quarter. GAMMA Investing LLC increased its position in Baker Hughes by 27.9% during the first quarter. GAMMA Investing LLC now owns 13,158 shares of the company's stock valued at $578,000 after acquiring an additional 2,872 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Baker Hughes by 158.2% during the first quarter. Assenagon Asset Management S.A. now owns 89,122 shares of the company's stock valued at $3,917,000 after acquiring an additional 54,610 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 667,593 shares in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the transaction, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. The trade was a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 553,068 shares of company stock worth $24,712,651 in the last three months. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of analyst reports. BMO Capital Markets reiterated an "outperform" rating and set a $53.00 price objective (up previously from $46.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $52.00 to $53.00 and gave the company an "overweight" rating in a research report on Tuesday, September 30th. Seaport Res Ptn cut shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Melius Research began coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Zephirin Group upped their price target on shares of Baker Hughes from $37.00 to $40.00 and gave the stock a "hold" rating in a report on Thursday, October 2nd. Twenty-two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.22.

Baker Hughes Trading Down 1.5%

NASDAQ BKR opened at $47.85 on Thursday. The company's 50-day moving average price is $45.85 and its 200-day moving average price is $41.32. 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 PE ratio of 15.64, a PEG ratio of 2.21 and a beta of 0.99. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $50.92.

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, topping 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 company had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $6.64 billion. During the same period in the prior year, the business earned $0.57 EPS. The firm's quarterly revenue was down 3.2% on a year-over-year basis. 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 year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, August 5th. 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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