Liontrust Investment Partners LLP Takes $10.62 Million Position in Baker Hughes Company $BKR

Key Points

• Liontrust Investment Partners acquired 173,957 Baker Hughes shares worth approximately $10.62 million, while institutional investors collectively own 92.06% of the company.
• Wall Street remains broadly positive, with 17 analysts rating the stock a Buy and four a Hold; Baker Hughes has a consensus “Moderate Buy” rating and an average price target of $69.95.
• Baker Hughes exceeded quarterly expectations with $0.64 earnings per share and $6.74 billion in revenue, and announced a quarterly dividend of $0.23 per share, representing a 1.5% yield.

Liontrust Investment Partners LLP acquired a new stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 173,957 shares of the company's stock, valued at approximately $10,620,000.

Several other large investors also recently bought and sold shares of BKR. Bleakley Financial Group LLC lifted its stake in Baker Hughes by 0.6% during the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company's stock valued at $1,556,000 after acquiring an additional 163 shares during the period. Resolute Wealth Strategies LLC boosted its holdings in shares of Baker Hughes by 2.7% during the 1st quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company's stock valued at $403,000 after acquiring an additional 172 shares during the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Baker Hughes by 10.5% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company's stock worth $86,000 after acquiring an additional 179 shares during the period. Krilogy Financial LLC grew its stake in shares of Baker Hughes by 3.2% in the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company's stock worth $261,000 after acquiring an additional 180 shares during the period. Finally, 3Chopt Investment Partners LLC raised its holdings in shares of Baker Hughes by 0.5% during the fourth quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company's stock valued at $1,944,000 after purchasing an additional 203 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BKR has been the topic of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of Baker Hughes from $70.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, April 27th. Evercore reaffirmed an "outperform" rating and issued a $76.00 target price on shares of Baker Hughes in a research report on Monday, April 27th. Stifel Nicolaus boosted their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday. Royal Bank Of Canada increased their price target on Baker Hughes from $68.00 to $71.00 and gave the company an "outperform" rating in a report on Monday, April 27th. Finally, Capital One Financial lifted their price objective on Baker Hughes from $66.00 to $71.00 and gave the stock an "overweight" rating in a report on Thursday, May 21st. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $69.95.

Baker Hughes Stock Up 2.0%

Shares of BKR stock opened at $59.90 on Friday. Baker Hughes Company has a 12 month low of $41.96 and a 12 month high of $70.41. The stock has a market cap of $59.42 billion, a P/E ratio of 19.32, a P/E/G ratio of 2.30 and a beta of 0.96. The company has a current ratio of 2.09, a quick ratio of 1.77 and a debt-to-equity ratio of 0.77. The company has a 50 day simple moving average of $59.47 and a two-hundred day simple moving average of $60.25.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.54 billion. During the same period last year, the firm earned $0.63 earnings per share. The company's quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts expect that Baker Hughes Company will post 2.4 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 7th. Baker Hughes's dividend payout ratio (DPR) is currently 29.68%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the sale, the chief executive officer owned 703,444 shares in the company, valued at $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the transaction, the chief accounting officer directly owned 15,997 shares in the company, valued at $1,027,327.34. This trade represents a 24.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 367,910 shares of company stock worth $22,420,797 over the last quarter. 0.19% of the stock is owned by company insiders.

About Baker Hughes

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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