D.A. Davidson & CO. Sells 18,890 Shares of Baker Hughes Company $BKR

Key Points

• D.A. Davidson & CO. reduced its stake in Baker Hughes by 19.1%, selling 18,890 shares and retaining 80,124 shares valued at about $3.65 million after the 4th quarter.
• Heavy insider selling: insiders disposed of 590,251 shares worth $35.31 million over the last quarter (insiders now own 0.19% of the stock), while institutional ownership remains high at 92.06%.
• Baker Hughes beat EPS estimates ($0.58 vs. $0.49) but missed revenue estimates ($6.59B vs. $6.71B), announced a $0.23 quarterly dividend (annualized $0.92, ~1.3% yield), and carries a consensus "Moderate Buy" rating with a $68.09 target.

D.A. Davidson & CO. trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 19.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,124 shares of the company's stock after selling 18,890 shares during the quarter. D.A. Davidson & CO.'s holdings in Baker Hughes were worth $3,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management lifted its holdings in shares of Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company's stock valued at $26,000 after buying an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company's stock valued at $32,000 after buying an additional 337 shares during the period. JFS Wealth Advisors LLC lifted its holdings in shares of Baker Hughes by 45.1% during the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock valued at $37,000 after buying an additional 252 shares during the period. Wolff Wiese Magana LLC lifted its holdings in shares of Baker Hughes by 55.6% during the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company's stock valued at $38,000 after buying an additional 300 shares during the period. Finally, Spire Wealth Management lifted its holdings in shares of Baker Hughes by 357.8% during the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company's stock valued at $50,000 after buying an additional 798 shares during the period. 92.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Baker Hughes news, CAO Rebecca L. Charlton sold 843 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total value of $47,494.62. Following the completion of the sale, the chief accounting officer owned 14,019 shares in the company, valued at approximately $789,830.46. This represents a 5.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the sale, the insider owned 15,555 shares of the company's stock, valued at $918,367.20. The trade was a 24.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 590,251 shares of company stock worth $35,311,023. 0.19% of the stock is currently owned by corporate insiders.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $69.67 on Friday. Baker Hughes Company has a one year low of $35.10 and a one year high of $70.41. The stock's fifty day moving average is $61.92 and its 200 day moving average is $54.29. The stock has a market cap of $68.85 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.41 and a beta of 0.90. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the business posted $0.51 EPS. Baker Hughes's revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Baker Hughes Company will post 2.32 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, May 5th. Baker Hughes's dividend payout ratio is presently 29.39%.

Analyst Ratings Changes

BKR has been the topic of several research analyst reports. Wall Street Zen cut Baker Hughes from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. HSBC raised their target price on Baker Hughes from $67.00 to $85.00 and gave the stock a "buy" rating in a report on Monday. UBS Group raised their target price on Baker Hughes from $69.00 to $73.00 and gave the stock a "neutral" rating in a report on Monday. Zephirin Group raised their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Monday, January 26th. Finally, iA Financial set a $60.00 target price on Baker Hughes in a report on Tuesday, January 27th. Nineteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.09.

Baker Hughes Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm's roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE's oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.

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