HighTower Advisors LLC Buys 22,278 Shares of Baker Hughes Company $BKR

Key Points

• HighTower Advisors increased its Baker Hughes stake by 2.0% in the fourth quarter, buying 22,278 shares and bringing its total holding to 1,132,693 shares worth about $51.6 million.
• Insider selling was notable, with CEO Lorenzo Simonelli selling 272,594 shares and other insiders also reducing positions; insiders sold 550,250 shares over the last three months.
• Baker Hughes reported quarterly EPS of $0.58, beating estimates, while revenue rose 2.5% year over year; the company also paid a $0.23 quarterly dividend and analysts currently rate the stock a Moderate Buy.

HighTower Advisors LLC grew its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,132,693 shares of the company's stock after buying an additional 22,278 shares during the period. HighTower Advisors LLC owned 0.11% of Baker Hughes worth $51,583,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Baker Hughes by 6.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 108,164 shares of the company's stock valued at $4,926,000 after buying an additional 6,848 shares in the last quarter. Mission Wealth Management LP boosted its holdings in shares of Baker Hughes by 1.9% during the 4th quarter. Mission Wealth Management LP now owns 14,024 shares of the company's stock valued at $639,000 after buying an additional 259 shares in the last quarter. Gabelli Funds LLC boosted its holdings in shares of Baker Hughes by 5.5% during the 4th quarter. Gabelli Funds LLC now owns 257,100 shares of the company's stock valued at $11,708,000 after buying an additional 13,500 shares in the last quarter. Sapient Capital LLC boosted its holdings in shares of Baker Hughes by 14.6% during the 4th quarter. Sapient Capital LLC now owns 4,567 shares of the company's stock valued at $210,000 after buying an additional 583 shares in the last quarter. Finally, North Dakota State Investment Board bought a new stake in shares of Baker Hughes during the 4th quarter valued at $1,549,000. Institutional investors own 92.06% of the company's stock.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the business's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the transaction, the chief executive officer owned 866,444 shares of the company's stock, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Maria Georgia Magno sold 5,063 shares of the business's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider directly owned 15,555 shares of the company's stock, valued at approximately $918,367.20. This trade represents a 24.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 550,250 shares of company stock valued at $32,988,331. 0.19% of the stock is owned by insiders.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $65.80 on Friday. The stock has a market cap of $65.28 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 2.37 and a beta of 0.97. The firm's 50-day moving average is $62.66 and its 200 day moving average is $56.11. Baker Hughes Company has a 1 year low of $35.83 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.09. The company had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 EPS. Sell-side analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. Baker Hughes's payout ratio is 29.39%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Barclays restated an "equal weight" rating and set a $74.00 target price (up from $62.00) on shares of Baker Hughes in a report on Thursday, May 7th. Johnson Rice assumed coverage on shares of Baker Hughes in a report on Wednesday, February 25th. They set a "buy" rating and a $68.00 target price on the stock. BMO Capital Markets boosted their target price on shares of Baker Hughes from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, April 27th. Jefferies Financial Group reiterated a "buy" rating and issued a $80.00 price target on shares of Baker Hughes in a research note on Sunday, April 26th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Baker Hughes in a research note on Friday, April 24th. Eighteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $69.41.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm's roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE's oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.

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