Callan Family Office LLC Buys 82,359 Shares of Baker Hughes Company $BKR

Key Points

• Callan Family Office LLC increased its stake in Baker Hughes Company by 217.6% in Q2, acquiring an additional 82,359 shares, bringing its total holdings to 120,200 shares valued at $4.6 million.
• Baker Hughes announced a quarterly dividend of $0.23, translating to an annualized dividend of $0.92 and a yield of 2.0%, with a payout ratio currently at 30.07%.
• Several analysts have upgraded their price targets for Baker Hughes, with Barclays raising its target to $53.00 and UBS Group adjusting it to $48.00, indicating a positive outlook for the stock.

Callan Family Office LLC grew its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 217.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,200 shares of the company's stock after purchasing an additional 82,359 shares during the quarter. Callan Family Office LLC's holdings in Baker Hughes were worth $4,608,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Baker Hughes by 0.8% during the first quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company's stock worth $5,367,096,000 after acquiring an additional 924,501 shares during the period. Dimensional Fund Advisors LP increased its position in Baker Hughes by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company's stock worth $515,367,000 after acquiring an additional 175,495 shares during the period. Invesco Ltd. increased its position in Baker Hughes by 2.7% during the first quarter. Invesco Ltd. now owns 10,790,132 shares of the company's stock worth $474,226,000 after acquiring an additional 283,454 shares during the period. Alliancebernstein L.P. increased its position in Baker Hughes by 3.9% during the first quarter. Alliancebernstein L.P. now owns 10,068,044 shares of the company's stock worth $442,491,000 after acquiring an additional 376,654 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Baker Hughes by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,262,413 shares of the company's stock worth $407,083,000 after acquiring an additional 707,471 shares during the period. 92.06% of the stock is owned by institutional investors.

Baker Hughes Trading Down 6.0%

BKR opened at $45.04 on Friday. The company's 50 day moving average is $45.93 and its 200-day moving average is $41.34. Baker Hughes Company has a 1-year low of $33.60 and a 1-year 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 company has a market cap of $44.40 billion, a P/E ratio of 14.72, a PEG ratio of 2.18 and a beta of 0.99.

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

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is presently 30.07%.

Insider Activity

In other 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 sale, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm's stock in a transaction that occurred 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 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. In the last three months, insiders have sold 553,068 shares of company stock worth $24,712,651. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of recent research reports. UBS Group raised their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a "neutral" rating in a research report on Monday. Barclays raised their price target on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Capital One Financial raised their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Citigroup raised their target price on shares of Baker Hughes from $54.00 to $56.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Royal Bank Of Canada upped their price target on shares of Baker Hughes from $50.00 to $54.00 and gave the stock an "outperform" rating in a report on Thursday. Twenty-two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.57.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.