LGT Fund Management Co Ltd. Takes $310,000 Position in Baker Hughes Company $BKR

Key Points

• LGT Fund Management Co Ltd. acquired a new position in Baker Hughes Company, purchasing 8,098 shares valued at approximately $310,000 in the 2nd quarter.
• Baker Hughes recently reported earnings of $0.63 per share, exceeding analysts' expectations, with a revenue of $6.91 billion for the quarter.
• The company announced a quarterly dividend of $0.23 per share, representing an annualized yield of 1.9%.

LGT Fund Management Co Ltd. acquired a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 8,098 shares of the company's stock, valued at approximately $310,000.

Several other large investors also recently bought and sold shares of the business. QRG Capital Management Inc. increased its holdings in Baker Hughes by 44.3% in the 2nd quarter. QRG Capital Management Inc. now owns 101,293 shares of the company's stock worth $3,884,000 after buying an additional 31,088 shares in the last quarter. Fortis Capital Advisors LLC increased its holdings in Baker Hughes by 4.2% in the 2nd quarter. Fortis Capital Advisors LLC now owns 16,764 shares of the company's stock worth $643,000 after buying an additional 683 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Baker Hughes in the 2nd quarter worth about $97,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Baker Hughes by 6.8% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 99,592 shares of the company's stock worth $3,818,000 after buying an additional 6,380 shares in the last quarter. Finally, Hilltop National Bank bought a new stake in Baker Hughes in the 2nd quarter worth about $43,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Trading Up 0.2%

Shares of NASDAQ:BKR opened at $48.50 on Friday. The stock has a 50 day moving average of $45.69 and a 200 day moving average of $41.22. The company has a market cap of $47.82 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The company 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 period in the previous year, the company posted $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities research analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. Baker Hughes's payout ratio is 30.07%.

Insider Activity at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the business's stock in a transaction that occurred 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 directly owned 11,772 shares in the company, valued at approximately $588,600. The trade was a 7.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the transaction, the executive vice president owned 40,520 shares of the company's stock, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 553,068 shares of company stock worth $24,712,651. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BKR shares. BMO Capital Markets reiterated an "outperform" rating and issued a $53.00 price objective (up from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Melius initiated coverage on Baker Hughes in a research note on Wednesday, August 20th. They set a "buy" rating and a $60.00 price target for the company. The Goldman Sachs Group cut their price target 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. Susquehanna boosted their price target on Baker Hughes from $52.00 to $56.00 and gave the company a "positive" rating in a research note on Thursday. Finally, Evercore ISI boosted their price target on Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Twenty-two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

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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