Northern Trust Corp Reduces Stock Position in Baker Hughes Company $BKR

Key Points

• Northern Trust Corp reduced its stake in Baker Hughes by 4.6%, selling 459,742 shares, and now owns approximately 9.54 million shares valued at $419.3 million.
• Baker Hughes reported a Q2 earnings per share of $0.63, exceeding analysts' estimates, with revenue of $6.91 billion, which was slightly lower than the previous year.
• The company recently announced a quarterly dividend of $0.23 per share, maintaining a yield of 2.1% and a dividend payout ratio of 30.07%.

Northern Trust Corp reduced its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,541,014 shares of the company's stock after selling 459,742 shares during the quarter. Northern Trust Corp owned about 0.96% of Baker Hughes worth $419,328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Baker Hughes by 0.8% in the first quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company's stock valued at $5,367,096,000 after acquiring an additional 924,501 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Baker Hughes by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company's stock worth $515,367,000 after buying an additional 175,495 shares during the period. Invesco Ltd. lifted its position in Baker Hughes by 2.7% during the first quarter. Invesco Ltd. now owns 10,790,132 shares of the company's stock worth $474,226,000 after buying an additional 283,454 shares during the period. Nuveen LLC purchased a new position in Baker Hughes during the first quarter worth about $404,385,000. Finally, Deutsche Bank AG lifted its position in Baker Hughes by 5.3% during the first quarter. Deutsche Bank AG now owns 8,181,944 shares of the company's stock worth $359,596,000 after buying an additional 411,396 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 0.9%

Shares of Baker Hughes stock traded down $0.3990 during trading hours on Monday, reaching $44.3610. The stock had a trading volume of 932,575 shares, compared to its average volume of 7,779,927. The firm has a market capitalization of $43.73 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 2.04 and a beta of 0.94. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 1 year low of $32.25 and a 1 year high of $49.40. The firm has a 50 day simple moving average of $41.35 and a two-hundred day simple moving average of $40.66.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.63 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 return on equity of 14.56% and a net margin of 11.04%.The company's revenue was down 3.2% on a year-over-year basis. During the same period 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, equities research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is presently 30.07%.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on BKR shares. BMO Capital Markets reiterated an "outperform" rating and set a $53.00 target price (up from $46.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Jefferies Financial Group set a $58.00 target price on Baker Hughes in a research report on Wednesday, July 30th. Melius started coverage on Baker Hughes in a research report on Wednesday, August 20th. They set a "buy" rating and a $60.00 target price on the stock. TD Cowen increased 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. Finally, The Goldman Sachs Group dropped their price target on Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.29.

About Baker Hughes

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.