Nissay Asset Management Corp Japan ADV Lowers Stock Holdings in Baker Hughes Company $BKR

Key Points

• Nissay Asset Management Corp Japan ADV has reduced its stake in Baker Hughes by 10.7% in the first quarter, holding 332,520 shares valued at approximately $14.61 million.
• Baker Hughes reported a quarterly earnings per share of $0.63, exceeding analysts' expectations of $0.55, despite a 3.2% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.23 per share, resulting in an annualized yield of 2.0%, with a payout ratio of 30.07%.

Nissay Asset Management Corp Japan ADV trimmed its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 332,520 shares of the company's stock after selling 39,784 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Baker Hughes were worth $14,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of BKR. Nuveen LLC bought a new position in Baker Hughes during the 1st quarter worth approximately $404,385,000. Pacer Advisors Inc. raised its stake in Baker Hughes by 2,585.6% during the first quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company's stock valued at $169,511,000 after buying an additional 3,713,301 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Baker Hughes in the fourth quarter worth $128,542,000. 1832 Asset Management L.P. bought a new stake in shares of Baker Hughes in the first quarter worth $70,685,000. Finally, AQR Capital Management LLC grew its holdings in shares of Baker Hughes by 27.8% in the first quarter. AQR Capital Management LLC now owns 5,457,164 shares of the company's stock worth $234,958,000 after acquiring an additional 1,185,456 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on BKR. Melius Research began coverage on Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 price target for the company. Stifel Nicolaus cut their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. 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 report on Wednesday, July 2nd. Seaport Res Ptn lowered Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Finally, UBS Group reissued a "neutral" rating and set a $46.00 price target (up previously from $43.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Twenty analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and an average price target of $52.29.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 667,593 shares in the company, valued at $29,654,481.06. The trade was a 44.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.27% of the company's stock.

Baker Hughes Trading Down 0.4%

NASDAQ:BKR traded down $0.19 during midday trading on Tuesday, hitting $45.45. The stock had a trading volume of 3,338,098 shares, compared to its average volume of 4,864,728. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The stock has a 50-day moving average of $42.84 and a 200 day moving average of $40.55. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $44.81 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.08 and a beta of 1.01.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results 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. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side analysts forecast 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. Shareholders 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 2.0%. Baker Hughes's dividend payout ratio (DPR) is presently 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.