Knights of Columbus Asset Advisors LLC Trims Stake in Baker Hughes Company $BKR

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Baker Hughes by 26.9% during the second quarter, selling 33,555 shares and holding 91,091 shares worth approximately $3.49 million.
• Several institutional investors, including Nuveen LLC and Pacer Advisors Inc., made significant changes to their positions in Baker Hughes, contributing to a total institutional ownership of 92.06%.
• Baker Hughes reported earnings per share of $0.63 for the last quarter, exceeding analyst estimates, but experienced a 3.2% decline in revenue compared to the previous year.

Knights of Columbus Asset Advisors LLC lowered its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 26.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,091 shares of the company's stock after selling 33,555 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Baker Hughes were worth $3,492,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BKR. Nuveen LLC bought a new position in Baker Hughes in the 1st quarter worth about $404,385,000. Pacer Advisors Inc. grew 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 worth $169,511,000 after purchasing an additional 3,713,301 shares in the last quarter. 1832 Asset Management L.P. bought a new position in shares of Baker Hughes in the first quarter worth approximately $70,685,000. Strs Ohio bought a new position in shares of Baker Hughes in the first quarter worth approximately $60,490,000. Finally, AQR Capital Management LLC raised its stake in Baker Hughes by 27.8% in the first quarter. AQR Capital Management LLC now owns 5,457,164 shares of the company's stock valued at $234,958,000 after purchasing an additional 1,185,456 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of research analyst reports. Industrial Alliance Securities set a $53.00 price target on shares of Baker Hughes in a report on Wednesday, July 30th. Jefferies Financial Group set a $58.00 target price on Baker Hughes in a research note on Wednesday, July 30th. Stifel Nicolaus dropped their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Seaport Res Ptn lowered Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Finally, TD Cowen boosted their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Twenty-two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.00.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares in the company, valued at approximately $588,600. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction on 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 trade represents a 44.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 553,068 shares of company stock valued at $24,712,651. Corporate insiders own 0.27% of the company's stock.

Baker Hughes Trading Up 0.2%

BKR opened at $48.50 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $50.92. The stock has a market cap of $47.82 billion, a PE ratio of 15.85, a PEG ratio of 2.21 and a beta of 0.99. The business has a 50 day moving average of $45.69 and a 200-day moving average of $41.19.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the prior year, the company earned $0.57 earnings per share. The firm's quarterly 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. Equities research analysts predict 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. Shareholders of record on Tuesday, August 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's dividend payout ratio is 30.07%.

Baker Hughes 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.

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