LPL Financial LLC Increases Position in Baker Hughes Company (NASDAQ:BKR)

LPL Financial LLC increased its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 309,442 shares of the company's stock after acquiring an additional 20,028 shares during the quarter. LPL Financial LLC's holdings in Baker Hughes were worth $13,600,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BKR. Greenleaf Trust lifted its stake in shares of Baker Hughes by 2.2% in the 1st quarter. Greenleaf Trust now owns 13,852 shares of the company's stock valued at $609,000 after purchasing an additional 293 shares during the period. Commerce Bank lifted its holdings in Baker Hughes by 1.0% in the fourth quarter. Commerce Bank now owns 31,075 shares of the company's stock valued at $1,275,000 after acquiring an additional 300 shares during the last quarter. Grove Bank & Trust boosted its stake in Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after buying an additional 320 shares during the period. Ritholtz Wealth Management boosted its stake in Baker Hughes by 1.0% during the first quarter. Ritholtz Wealth Management now owns 34,725 shares of the company's stock worth $1,526,000 after buying an additional 339 shares during the period. Finally, Black Cypress Capital Management LLC boosted its stake in shares of Baker Hughes by 0.4% in the fourth quarter. Black Cypress Capital Management LLC now owns 103,624 shares of the company's stock valued at $4,251,000 after purchasing an additional 373 shares during the period. Institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Performance

Baker Hughes stock opened at $43.43 on Thursday. The stock's 50 day simple moving average is $40.12 and its two-hundred day simple moving average is $40.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The stock has a market cap of $42.82 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 5.39 and a beta of 0.94. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same period last year, the business earned $0.57 earnings per share. The business's revenue was down 3.2% on a year-over-year basis. As a group, analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.1%. Baker Hughes's dividend payout ratio is currently 30.07%.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the transaction, the chief executive officer owned 667,593 shares of the company's stock, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

BKR has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. The Goldman Sachs Group dropped their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. Piper Sandler lowered their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus reduced their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Finally, TD Cowen raised their price target on Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $51.47.

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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