HighTower Advisors LLC Increases Stake in Baker Hughes Company $BKR

Key Points

• HighTower Advisors LLC has increased its stake in Baker Hughes by 3.3%, owning approximately 682,801 shares valued at $30.01 million.
• Baker Hughes reported $0.63 earnings per share (EPS) for the latest quarter, outperforming analysts' expectations of $0.55, despite a 3.2% decline in quarterly revenue compared to the previous year.
• The company also announced a quarterly dividend of $0.23, representing an annualized yield of 2.1% with a payout ratio of 30.07%.

HighTower Advisors LLC increased its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 682,801 shares of the company's stock after acquiring an additional 21,621 shares during the quarter. HighTower Advisors LLC owned approximately 0.07% of Baker Hughes worth $30,009,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Wayfinding Financial LLC purchased a new position in Baker Hughes during the first quarter valued at approximately $28,000. Golden State Wealth Management LLC increased its holdings in shares of Baker Hughes by 678.7% in 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 during the period. N.E.W. Advisory Services LLC bought a new position in shares of Baker Hughes in the 1st quarter worth $30,000. Grove Bank & Trust raised its position in shares of Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after acquiring an additional 320 shares in the last quarter. Finally, Spire Wealth Management lifted its stake in shares of Baker Hughes by 132.9% during the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after purchasing an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on BKR. Jefferies Financial Group set a $58.00 target price on shares of Baker Hughes in a report on Wednesday, July 30th. TD Cowen boosted their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Susquehanna increased their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Barclays lifted their price target on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $53.00 price objective (up previously from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.47.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction dated 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 directly owned 667,593 shares in the company, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

Shares of Baker Hughes stock traded up $0.01 on Tuesday, hitting $42.88. The company's stock had a trading volume of 920,101 shares, compared to its average volume of 7,870,549. The company has a market capitalization of $42.27 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.95 and a beta of 0.94. Baker Hughes Company has a 1 year low of $32.25 and a 1 year high of $49.40. 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 moving average price of $40.99 and a 200-day moving average price of $40.78.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.55 by $0.08. The company had revenue of $6.91 billion for 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%.Baker Hughes's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

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

About Baker Hughes

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.