Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Baker Hughes Company $BKR

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Baker Hughes Company by 4.6%, now owning 384,650 shares valued at approximately $14.7 million.
• Several institutional investors have made significant changes to their positions in Baker Hughes, with NBC Securities Inc. increasing its holdings by 94,600% and a total of 92.06% of the stock now owned by institutional investors.
• Baker Hughes has received favorable price target upgrades from analysts, with Barclays and JPMorgan both setting a new price target of $53 per share, contributing to an average rating of "Moderate Buy".

Mirae Asset Global Investments Co. Ltd. grew its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 4.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 384,650 shares of the company's stock after buying an additional 16,924 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Baker Hughes were worth $14,747,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BKR. NBC Securities Inc. raised its holdings in shares of Baker Hughes by 94,600.0% in the first quarter. NBC Securities Inc. now owns 7,576 shares of the company's stock valued at $332,000 after buying an additional 7,568 shares during the last quarter. Merit Financial Group LLC raised its holdings in shares of Baker Hughes by 106.8% in the first quarter. Merit Financial Group LLC now owns 21,220 shares of the company's stock valued at $933,000 after buying an additional 10,961 shares during the last quarter. Vest Financial LLC purchased a new stake in shares of Baker Hughes in the first quarter valued at about $19,588,000. Congress Asset Management Co. raised its holdings in shares of Baker Hughes by 3.0% in the first quarter. Congress Asset Management Co. now owns 2,690,942 shares of the company's stock valued at $118,267,000 after buying an additional 78,672 shares during the last quarter. Finally, Wedmont Private Capital raised its holdings in shares of Baker Hughes by 5.5% in the first quarter. Wedmont Private Capital now owns 19,894 shares of the company's stock valued at $874,000 after buying an additional 1,029 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Industrial Alliance Securities set a $53.00 price target on shares of Baker Hughes in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Baker Hughes from $52.00 to $53.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 30th. Barclays boosted their price target on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. UBS Group reiterated a "neutral" rating and set a $46.00 price target (up from $43.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Finally, Capital One Financial boosted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $52.00.

Insiders Place Their Bets

In other Baker Hughes news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the transaction, the executive vice president owned 40,520 shares of the company's stock, valued at $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the sale, the chief executive officer directly owned 667,593 shares of the company's stock, valued at $29,654,481.06. The trade was a 44.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 553,068 shares of company stock valued at $24,712,651 over the last quarter. Company insiders own 0.27% of the company's stock.

Baker Hughes Stock Up 0.2%

Shares of NASDAQ BKR opened at $48.50 on Friday. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92. The company has a market capitalization 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 debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The firm's 50-day moving average is $45.69 and its two-hundred day moving average is $41.22.

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 the consensus estimate of $0.55 by $0.08. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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