Nordea Investment Management AB Has $85.97 Million Stock Holdings in Baker Hughes Company $BKR

Key Points

• Nordea Investment Management AB increased its stock holdings in Baker Hughes Company by 16.2% during the 2nd quarter, now owning about 2.23 million shares valued at approximately $85.97 million.
• Baker Hughes recently reported an earnings per share (EPS) of $0.16 for the quarter, with revenue of $5.09 billion.
• The company announced a quarterly dividend of $0.23 per share, representing an annualized yield of 2.0% and a payout ratio of 30.07%.

Nordea Investment Management AB lifted its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 16.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,228,911 shares of the company's stock after buying an additional 311,437 shares during the period. Nordea Investment Management AB owned about 0.22% of Baker Hughes worth $85,969,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of Baker Hughes in the first quarter worth $28,000. Golden State Wealth Management LLC boosted its position in shares of Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after buying an additional 604 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of Baker Hughes in the first quarter worth $30,000. Harbour Investments Inc. boosted its position in shares of Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company's stock worth $33,000 after buying an additional 326 shares during the period. Finally, Spire Wealth Management boosted its position in shares of Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after buying an additional 465 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $45.18 on Friday. The firm has a market cap of $44.54 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.95 and a beta of 0.99. 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 business's 50-day simple moving average is $46.08 and its 200-day simple moving average is $41.36. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $50.92.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. As a group, equities research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given 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 2.0%. Baker Hughes's dividend payout ratio is presently 30.07%.

Analyst Upgrades and Downgrades

BKR has been the subject of several recent analyst reports. TD Cowen raised their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Seaport Res Ptn lowered Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Melius started coverage on Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 price objective for the company. Bank of America increased their price objective on Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, October 14th. Finally, Barclays reiterated an "overweight" rating on shares of Baker Hughes in a report on Tuesday. Twenty-two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $52.91.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the transaction, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. The trade was a 44.10% 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, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares in the company, valued at $588,600. The trade was a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,068 shares of company stock valued at $24,712,651 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Baker Hughes Company 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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