Cwm LLC Lowers Position in Baker Hughes Company $BKR

Key Points

• Cwm LLC reduced its stake in Baker Hughes Company (NASDAQ:BKR) by 43.9% during Q2, holding 44,444 shares valued at $1.7 million after selling 34,832 shares.
• Other institutional investors have adjusted their positions, with Vanguard increasing its holding by 7.5% and Concurrent Investment Advisors boosting its position by 405%.
• Baker Hughes reported $0.16 earnings per share on $5.09 billion in revenue for the last quarter, with analysts expecting an annual EPS of 2.59 and a consensus target price of $52.91.

Cwm LLC lessened its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 43.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,444 shares of the company's stock after selling 34,832 shares during the quarter. Cwm LLC's holdings in Baker Hughes were worth $1,704,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Baker Hughes by 7.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 115,110 shares of the company's stock worth $4,414,000 after buying an additional 8,023 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in Baker Hughes by 405.0% in the second quarter. Concurrent Investment Advisors LLC now owns 34,832 shares of the company's stock worth $1,335,000 after purchasing an additional 27,935 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in Baker Hughes by 9.7% in the second quarter. Fifth Third Wealth Advisors LLC now owns 16,084 shares of the company's stock worth $617,000 after purchasing an additional 1,425 shares during the last quarter. JB Capital LLC increased its position in Baker Hughes by 0.5% in the second quarter. JB Capital LLC now owns 82,314 shares of the company's stock worth $3,156,000 after purchasing an additional 447 shares during the last quarter. Finally, Cardano Risk Management B.V. increased its position in Baker Hughes by 20.4% in the second quarter. Cardano Risk Management B.V. now owns 4,949,808 shares of the company's stock worth $189,776,000 after purchasing an additional 838,333 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Trading Up 1.2%

BKR stock opened at $45.18 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $50.92. The stock has a market capitalization of $44.54 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. The firm's fifty day simple moving average is $46.08 and its two-hundred day simple moving average is $41.36.

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

Baker Hughes Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.0%. Baker Hughes's dividend payout ratio is presently 30.07%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group set a $58.00 price target on shares of Baker Hughes in a research report on Wednesday, July 30th. Weiss Ratings restated a "buy (b)" rating on shares of Baker Hughes in a research report on Wednesday, October 8th. Morgan Stanley boosted their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Melius Research assumed coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price target on the stock. Finally, TD Cowen boosted their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Twenty-two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.91.

Insider Transactions at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 1,000 shares of the company's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at approximately $588,600. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company's 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 completion of 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. Over the last ninety days, insiders have sold 553,068 shares of company stock worth $24,712,651. Insiders own 0.27% of the company's stock.

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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