Boston Trust Walden Corp Sells 103,060 Shares of Baker Hughes Company $BKR

Key Points

• Boston Trust Walden Corp reduced its stake in Baker Hughes Company by 24.9%, selling 103,060 shares during the second quarter, leaving it with 311,625 shares valued at approximately $11.95 million.
• Baker Hughes' CEO Lorenzo Simonelli sold 526,568 shares of the company's stock, representing a 44.10% reduction in his ownership, while EVP Sreeganesh Ramaswamy also sold 25,000 shares.
• Analysts have mixed views on Baker Hughes, with some raising their price targets, such as TD Cowen from $52 to $54, while others, like Seaport Res Ptn, downgraded the stock from a "strong-buy" to a "hold" rating.

Boston Trust Walden Corp lowered its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 24.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 311,625 shares of the company's stock after selling 103,060 shares during the period. Boston Trust Walden Corp's holdings in Baker Hughes were worth $11,948,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Alpine Woods Capital Investors LLC increased its position in Baker Hughes by 4.0% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 44,593 shares of the company's stock valued at $1,710,000 after buying an additional 1,716 shares in the last quarter. Heartland Bank & Trust Co bought a new position in Baker Hughes during the 2nd quarter valued at approximately $334,000. NorthRock Partners LLC increased its position in Baker Hughes by 54.2% during the 2nd quarter. NorthRock Partners LLC now owns 13,584 shares of the company's stock valued at $521,000 after buying an additional 4,774 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Baker Hughes by 266.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 127,646 shares of the company's stock valued at $4,894,000 after buying an additional 92,768 shares in the last quarter. Finally, Vest Financial LLC increased its position in Baker Hughes by 66.6% during the 2nd quarter. Vest Financial LLC now owns 742,494 shares of the company's stock valued at $28,467,000 after buying an additional 296,796 shares in the last quarter. Institutional investors own 92.06% of the company's stock.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the transaction, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the transaction, the executive vice president owned 40,520 shares of the company's stock, valued at approximately $2,026,000. This represents a 38.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 553,068 shares of company stock worth $24,712,651. Corporate insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. TD Cowen raised their price objective on Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Seaport Res Ptn downgraded Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Jefferies Financial Group set a $58.00 target price on Baker Hughes in a research note on Wednesday, July 30th. The Goldman Sachs Group cut their target price on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Baker Hughes in a research note on Wednesday, October 8th. Twenty-two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and a consensus price target of $52.57.

Baker Hughes Stock Performance

BKR stock opened at $44.83 on Wednesday. The company has a market cap of $44.20 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 2.07 and a beta of 0.99. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $50.92. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The stock's fifty day moving average price is $45.99 and its 200-day moving average price is $41.35.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The company had revenue of $5.09 billion for the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. On average, equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

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