Brookwood Investment Group LLC Acquires New Stake in Baker Hughes Company (NASDAQ:BKR)

Key Points

• Brookwood Investment Group LLC has acquired a new stake in Baker Hughes Company, purchasing 15,109 shares valued at approximately $664,000 in the first quarter.
• Multiple institutional investors, including Wayfinding Financial LLC and Golden State Wealth Management LLC, have significantly increased their holdings in Baker Hughes, indicating strong investor interest.
• Baker Hughes recently announced a $0.23 quarterly dividend, with a yield of 2.00%, highlighting the company's commitment to returning value to shareholders.

Brookwood Investment Group LLC bought a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,109 shares of the company's stock, valued at approximately $664,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wayfinding Financial LLC purchased a new position in Baker Hughes during the 1st quarter valued at $28,000. Golden State Wealth Management LLC lifted its position in shares of Baker Hughes by 678.7% during the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after buying an additional 604 shares during the last quarter. Grove Bank & Trust grew its stake in Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after buying an additional 320 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Baker Hughes by 132.9% during the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after acquiring an additional 465 shares in the last quarter. Finally, Tsfg LLC grew its holdings in shares of Baker Hughes by 278.8% during the first quarter. Tsfg LLC now owns 1,485 shares of the company's stock valued at $65,000 after buying an additional 1,093 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Piper Sandler dropped their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley dropped their price objective on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Citigroup dropped their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. TD Cowen upped their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a report on Thursday. Finally, TD Securities lowered their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.50.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's 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 transaction, the chief executive officer directly owned 667,593 shares of the company's stock, valued at $29,654,481.06. This trade represents a 44.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded up $0.33 during midday trading on Friday, reaching $46.05. 5,858,210 shares of the company's stock traded hands, compared to its average volume of 8,074,655. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.93 and a current ratio of 1.41. The company has a market cap of $45.62 billion, a P/E ratio of 15.05, a PEG ratio of 5.74 and a beta of 0.91. Baker Hughes Company has a 1 year low of $32.25 and a 1 year high of $49.40. The company has a fifty day simple moving average of $38.89 and a two-hundred day simple moving average of $40.97.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The firm 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%. Baker Hughes's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $0.57 EPS. Equities analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.00%. Baker Hughes's payout ratio is currently 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.