Intermede Investment Partners Ltd cut its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,251,453 shares of the company's stock after selling 63,693 shares during the quarter. Baker Hughes comprises about 2.3% of Intermede Investment Partners Ltd's holdings, making the stock its 22nd largest position. Intermede Investment Partners Ltd owned 0.13% of Baker Hughes worth $56,991,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Baker Hughes by 0.5% in the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company's stock valued at $6,035,924,000 after purchasing an additional 598,159 shares in the last quarter. Capital World Investors grew its position in shares of Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company's stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares in the last quarter. Capital Research Global Investors grew its position in shares of Baker Hughes by 7.1% in the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company's stock valued at $1,262,033,000 after purchasing an additional 1,728,016 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of Baker Hughes by 3.8% in the third quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company's stock valued at $843,653,000 after purchasing an additional 638,640 shares in the last quarter. Finally, Capital International Investors purchased a new position in shares of Baker Hughes in the third quarter valued at $729,670,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Baker Hughes
In other news, insider Maria Georgia Magno sold 5,063 shares of the company'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 in the company, valued at approximately $918,367.20. This represents a 24.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the sale, the chief executive officer directly owned 866,444 shares of the company's stock, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 550,250 shares of company stock valued at $32,988,331 over the last quarter. Company insiders own 0.19% of the company's stock.
Baker Hughes Price Performance
BKR opened at $66.06 on Monday. The stock has a 50-day moving average price of $62.80 and a 200-day moving average price of $56.23. Baker Hughes Company has a 12-month low of $36.03 and a 12-month high of $70.41. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $65.54 billion, a P/E ratio of 21.11, a PEG ratio of 2.35 and a beta of 0.97.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data 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. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm had revenue of $6.59 billion during the quarter, compared to analysts' expectations of $6.71 billion. During the same period in the prior year, the business earned $0.51 EPS. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts predict that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.
Baker Hughes Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, May 5th. Baker Hughes's dividend payout ratio is presently 29.39%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on BKR. Susquehanna boosted their target price on Baker Hughes from $70.00 to $80.00 and gave the stock a "positive" rating in a research report on Monday, April 27th. Barclays restated an "equal weight" rating and set a $74.00 target price (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Zacks Research cut Baker Hughes from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 28th. Royal Bank Of Canada boosted their target price on Baker Hughes from $68.00 to $71.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. Finally, Wall Street Zen cut Baker Hughes from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $69.41.
Check Out Our Latest Research Report on BKR
About Baker Hughes
(
Free Report)
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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