Baker Hughes Company $BKR Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC has decreased its shareholding in Baker Hughes Company by 4.1%, holding now 228,400 shares valued at approximately $10.04 million.
• In the last quarter, numerous hedge funds increased or acquired positions in Baker Hughes, resulting in institutional investors owning 92.06% of the company's stock.
• Baker Hughes reported an earnings per share (EPS) of $0.63, surpassing expectations and indicating a slight revenue decrease of 3.2% year-over-year.

Gabelli Funds LLC lowered its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 228,400 shares of the company's stock after selling 9,800 shares during the quarter. Gabelli Funds LLC's holdings in Baker Hughes were worth $10,038,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in Baker Hughes during the 1st quarter valued at $28,000. N.E.W. Advisory Services LLC bought a new stake in Baker Hughes during the 1st quarter valued at $30,000. Golden State Wealth Management LLC boosted its position in Baker Hughes by 678.7% during the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after acquiring an additional 604 shares in the last quarter. Grove Bank & Trust boosted its position in Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after acquiring an additional 320 shares in the last quarter. Finally, Spire Wealth Management boosted its position in Baker Hughes by 132.9% during the 1st 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. Institutional investors own 92.06% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Evercore ISI increased their target price on Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Jefferies Financial Group set a $58.00 price objective on Baker Hughes in a research report on Wednesday, July 30th. Industrial Alliance Securities set a $53.00 price objective on Baker Hughes in a research report on Wednesday, July 30th. Seaport Res Ptn cut Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Finally, Stifel Nicolaus lowered their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.29.

Baker Hughes Stock Performance

BKR stock traded down $0.16 during midday trading on Monday, reaching $45.40. The stock had a trading volume of 4,786,689 shares, compared to its average volume of 4,796,474. The stock has a market cap of $44.76 billion, a PE ratio of 14.84, a P/E/G ratio of 2.07 and a beta of 1.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The firm has a fifty day simple moving average of $41.94 and a two-hundred day simple moving average of $40.59. Baker Hughes Company has a 52-week low of $32.25 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.08. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

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

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction on 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 $29,654,481.06. This trade represents a 44.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is owned by company insiders.

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.