Great Lakes Advisors LLC Boosts Holdings in Baker Hughes Company $BKR

Key Points

• Great Lakes Advisors LLC increased its stake in Baker Hughes Company by 61.4% in the first quarter, now holding 155,118 shares valued at approximately $6.82 million.
• Analysts have given Baker Hughes an average rating of "Moderate Buy" with a price target of $52.29, although some have downgraded their ratings recently.
• Baker Hughes reported earnings of $0.63 per share in its last quarter, surpassing the consensus estimate, with revenue of $6.91 billion, which was also above expectations.

Great Lakes Advisors LLC grew its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 61.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,118 shares of the company's stock after buying an additional 59,014 shares during the quarter. Great Lakes Advisors LLC's holdings in Baker Hughes were worth $6,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BKR. Captrust Financial Advisors increased its holdings in shares of Baker Hughes by 19.2% in the 4th quarter. Captrust Financial Advisors now owns 41,154 shares of the company's stock valued at $1,688,000 after acquiring an additional 6,629 shares during the period. Cetera Investment Advisers raised its holdings in Baker Hughes by 225.9% in the 4th quarter. Cetera Investment Advisers now owns 83,039 shares of the company's stock worth $3,406,000 after purchasing an additional 57,556 shares during the period. Focus Partners Wealth increased its stake in Baker Hughes by 26.3% during the 4th quarter. Focus Partners Wealth now owns 17,495 shares of the company's stock worth $718,000 after buying an additional 3,641 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $1,546,000. Finally, Morse Asset Management Inc increased its stake in Baker Hughes by 4.0% during the fourth quarter. Morse Asset Management Inc now owns 36,350 shares of the company's stock worth $1,491,000 after acquiring an additional 1,400 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BKR has been the topic of a number of research analyst reports. Barclays lifted their target price on Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Evercore ISI increased their price target on Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Jefferies Financial Group set a $58.00 price target on shares of Baker Hughes in a research report on Wednesday, July 30th. Industrial Alliance Securities set a $53.00 target price on Baker Hughes in a research report on Wednesday, July 30th. Finally, Melius initiated coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They set a "buy" rating and a $60.00 target price on the stock. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $52.29.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction 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. The trade was a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is owned by corporate insiders.

Baker Hughes Price Performance

NASDAQ:BKR traded down $0.48 on Friday, hitting $46.49. The company had a trading volume of 4,014,997 shares, compared to its average volume of 4,764,843. The firm has a 50 day moving average of $43.40 and a two-hundred day moving average of $40.66. The stock has a market capitalization of $45.83 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 2.14 and a beta of 1.01. Baker Hughes Company has a 52 week low of $33.13 and a 52 week high of $49.40. The company has a current ratio of 1.41, a quick ratio of 1.00 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The firm had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $6.64 billion. During the same period last year, the company earned $0.57 earnings per share. The business's revenue was down 3.2% on a year-over-year basis. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.0%. Baker Hughes's payout ratio is currently 30.07%.

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.