Perpetual Ltd Reduces Stock Position in Baker Hughes Company $BKR

Key Points

• Perpetual Ltd significantly reduced its stake in Baker Hughes Company by 84.5%, selling 32,386 shares and holding a total of 5,937 shares valued at $228,000 at the end of the last quarter.
• Recent analyst reports show a consensus rating of "Moderate Buy" for Baker Hughes, with target prices ranging from $46.00 to $60.00, indicating positive outlook from several brokerages.
• Baker Hughes recently declared a quarterly dividend of $0.23 per share, resulting in a 1.9% yield and reflecting a dividend payout ratio of 30.07%.

Perpetual Ltd reduced its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 84.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,937 shares of the company's stock after selling 32,386 shares during the quarter. Perpetual Ltd's holdings in Baker Hughes were worth $228,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its holdings in shares of Baker Hughes by 2.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock worth $27,314,000 after buying an additional 17,035 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Baker Hughes by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock valued at $1,075,000 after acquiring an additional 8,351 shares during the period. Principal Financial Group Inc. increased its position in shares of Baker Hughes by 7.2% in the first quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company's stock valued at $54,462,000 after acquiring an additional 82,706 shares during the period. Stack Financial Management Inc purchased a new position in shares of Baker Hughes in the first quarter valued at about $12,890,000. Finally, Johnson Investment Counsel Inc. purchased a new position in shares of Baker Hughes in the first quarter valued at about $360,000. Institutional investors own 92.06% of the company's stock.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

BKR has been the subject of several research analyst reports. The Goldman Sachs Group dropped their target price on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Barclays boosted their target price on shares of Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Melius started coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They issued a "buy" rating and a $60.00 target price for the company. Melius Research started coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They set a "buy" rating and a $60.00 target price for the company. Finally, UBS Group restated a "neutral" rating and set a $46.00 target price (up previously from $43.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Twenty-one research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus target price of $52.32.

Baker Hughes Price Performance

Baker Hughes stock traded up $0.33 during trading on Monday, reaching $47.67. The company had a trading volume of 5,156,561 shares, compared to its average volume of 5,419,442. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $49.40. 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 firm's 50-day simple moving average is $44.11 and its 200 day simple moving average is $40.76. The firm has a market capitalization of $47.00 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 2.15 and a beta of 1.01.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued 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 firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. Baker Hughes's revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $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 fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio is 30.07%.

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.