Gradient Investments LLC Increases Stake in Baker Hughes Company $BKR

Key Points

• Gradient Investments LLC increased its stake in Baker Hughes Company by 26.5% during the second quarter, holding 459,127 shares valued at approximately $17.6 million.
• Baker Hughes reported $0.63 earnings per share for the last quarter, surpassing analysts' expectations of $0.55 while generating $6.91 billion in revenue.
• The company recently declared a quarterly dividend of $0.23 per share, equating to an annualized yield of 2.0%.

Gradient Investments LLC lifted its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 26.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 459,127 shares of the company's stock after buying an additional 96,088 shares during the quarter. Gradient Investments LLC's holdings in Baker Hughes were worth $17,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of BKR. Nuveen LLC purchased a new position in shares of Baker Hughes during the first quarter valued at about $404,385,000. Pacer Advisors Inc. grew its holdings in Baker Hughes by 2,585.6% in the first quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company's stock worth $169,511,000 after purchasing an additional 3,713,301 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Baker Hughes in the fourth quarter worth about $128,542,000. 1832 Asset Management L.P. purchased a new stake in Baker Hughes in the first quarter worth about $70,685,000. Finally, Strs Ohio purchased a new stake in Baker Hughes in the first quarter worth about $60,490,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Down 1.0%

Shares of Baker Hughes stock opened at $46.49 on Monday. The company has a market cap of $45.83 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 2.12 and a beta of 1.01. The company's 50 day moving average is $43.40 and its 200 day moving average is $40.62. Baker Hughes Company has a twelve month low of $33.13 and a twelve month high of $49.40. 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 (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were given a dividend of $0.23 per share. 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 is 30.07%.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BKR shares. Jefferies Financial Group set a $58.00 price objective on shares of Baker Hughes in a report on Wednesday, July 30th. Evercore ISI upped their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. TD Cowen upped their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. BMO Capital Markets restated an "outperform" rating and issued a $53.00 price objective (up previously from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Finally, UBS Group reiterated a "neutral" rating and set a $46.00 price target (up previously from $43.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Twenty investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of "Moderate Buy" and an average target price of $52.29.

Baker Hughes Company 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.

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