Gulf International Bank UK Ltd Has $2.55 Million Position in Baker Hughes Company $BKR

Key Points

• Gulf International Bank UK Ltd sold 21,075 shares of Baker Hughes, reducing its holdings by **26.6%** to a total of **58,104 shares** valued at approximately **$2.55 million**.
• CEO **Lorenzo Simonelli** sold **526,568 shares** of Baker Hughes for over **$23.39 million**, decreasing his ownership stake by **44.1%**.
• Baker Hughes reported earnings of **$0.63 per share**, which surpassed analysts' expectations and reflected a **11.04% net margin** despite a **3.2% decline** in revenue year-over-year.

Gulf International Bank UK Ltd cut its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 26.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,104 shares of the company's stock after selling 21,075 shares during the period. Gulf International Bank UK Ltd's holdings in Baker Hughes were worth $2,553,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BKR. Nuveen LLC purchased a new stake in shares of Baker Hughes during the first quarter valued at $404,385,000. Pacer Advisors Inc. lifted its holdings in shares of Baker Hughes by 2,585.6% during the first quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company's stock valued at $169,511,000 after purchasing an additional 3,713,301 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Baker Hughes during the fourth quarter valued at $128,542,000. Northern Trust Corp lifted its holdings in shares of Baker Hughes by 18.4% during the fourth quarter. Northern Trust Corp now owns 10,000,756 shares of the company's stock valued at $410,231,000 after purchasing an additional 1,553,536 shares during the last quarter. Finally, J. Safra Sarasin Holding AG lifted its holdings in shares of Baker Hughes by 1,170.8% during the fourth quarter. J. Safra Sarasin Holding AG now owns 1,290,044 shares of the company's stock valued at $52,918,000 after purchasing an additional 1,188,529 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Trading Up 0.2%

Shares of BKR stock traded up $0.07 on Monday, reaching $42.87. 3,532,368 shares of the stock were exchanged, compared to its average volume of 7,903,138. The stock has a market cap of $42.26 billion, a PE ratio of 14.01, a P/E/G ratio of 1.95 and a beta of 0.94. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The stock has a 50 day moving average price of $40.90 and a 200 day moving average price of $40.80.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The firm's revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 earnings per share. Equities research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's dividend payout ratio is 30.07%.

Analysts Set New Price Targets

BKR has been the subject of several research analyst reports. Seaport Res Ptn downgraded Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group reduced their price objective 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. Royal Bank Of Canada reduced their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Evercore ISI increased their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley increased their price objective on Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $51.47.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction dated 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 sale, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

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.