Guggenheim Capital LLC Sells 63,874 Shares of Baker Hughes Company $BKR

Key Points

• Guggenheim Capital LLC reduced its stake in Baker Hughes Company by 21.9%, selling 63,874 shares and retaining 228,220 shares, valued at approximately $10 million.
• CEO Lorenzo Simonelli sold 526,568 shares worth about $23.4 million, resulting in a 44.1% decrease in his ownership of the stock.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price around $52.29, reflecting optimism despite recent price adjustments from firms like Goldman Sachs.

Guggenheim Capital LLC cut its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 21.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 228,220 shares of the company's stock after selling 63,874 shares during the quarter. Guggenheim Capital LLC's holdings in Baker Hughes were worth $10,030,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BKR. Wayfinding Financial LLC acquired a new stake in shares of Baker Hughes in the first quarter valued at $28,000. Golden State Wealth Management LLC increased its stake in shares of Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after buying an additional 604 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Baker Hughes in the first quarter valued at $30,000. Grove Bank & Trust increased its stake in shares of Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after buying an additional 320 shares in the last quarter. Finally, Spire Wealth Management increased its stake in shares of Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after buying an additional 465 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction dated Wednesday, July 23rd. The stock was 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

Baker Hughes Trading Down 0.4%

BKR traded down $0.16 during midday trading on Friday, reaching $45.40. 4,786,689 shares of the company were exchanged, compared to its average volume of 4,796,474. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The stock has a market capitalization of $44.76 billion, a P/E ratio of 14.84, a PEG ratio of 2.07 and a beta of 1.01. The stock's 50-day simple moving average is $41.94 and its 200 day simple moving average is $40.59.

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. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $6.64 billion. During the same quarter last year, the business earned $0.57 earnings per share. The company's revenue was down 3.2% compared to the same quarter last year. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Melius assumed coverage on Baker Hughes in a research note on Wednesday, August 20th. They issued a "buy" rating and a $60.00 target price for the company. The Goldman Sachs Group lowered their target price on Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. Industrial Alliance Securities set a $53.00 target price on Baker Hughes in a research note on Wednesday, July 30th. Melius Research assumed coverage on Baker Hughes in a research report on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price objective for the company. Finally, Evercore ISI lifted their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Twenty analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.