Price T Rowe Associates Inc. MD Has $491.37 Million Position in Baker Hughes Company $BKR

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Baker Hughes Company by 11.2%, holding approximately 11.18 million shares worth about $491 million after selling over 1.4 million shares in the first quarter.
• CEO Lorenzo Simonelli sold 526,568 shares for around $23.39 million, significantly reducing his holdings by 44.10%, which highlights notable insider selling activity.
• Analysts have mixed but generally positive ratings, with target prices varying, including a raise from Morgan Stanley to $55.00, reflecting a consensus rating of "Moderate Buy" with a target price of $52.29.

Price T Rowe Associates Inc. MD reduced its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 11.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,180,101 shares of the company's stock after selling 1,415,638 shares during the period. Price T Rowe Associates Inc. MD owned 1.13% of Baker Hughes worth $491,367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Baker Hughes in the 1st quarter valued at $28,000. Golden State Wealth Management LLC lifted its stake in Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after acquiring an additional 604 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Baker Hughes in the first quarter valued at $30,000. Grove Bank & Trust lifted its stake in Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after acquiring an additional 320 shares during the last quarter. Finally, Spire Wealth Management lifted its stake in Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after acquiring an additional 465 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on BKR. The Goldman Sachs Group cut their price target on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. Melius assumed coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They set a "buy" rating and a $60.00 target price for the company. Susquehanna lifted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. UBS Group reiterated a "neutral" rating and issued a $46.00 price target (up previously from $43.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Finally, Barclays upped their price target on shares of Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.29.

Baker Hughes Stock Performance

Shares of BKR stock traded up $0.33 on Wednesday, hitting $44.78. The company's stock had a trading volume of 3,510,245 shares, compared to its average volume of 7,753,308. The company has a market capitalization of $44.15 billion, a PE ratio of 14.63, a PEG ratio of 2.03 and a beta of 0.94. The stock's 50 day moving average is $41.56 and its 200-day moving average is $40.67. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week 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.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The business had revenue of $6.91 billion during 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%.Baker Hughes's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.1%. Baker Hughes's dividend payout ratio (DPR) is 30.07%.

Insiders Place Their Bets

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 value of $23,390,150.56. Following the sale, the chief executive officer directly owned 667,593 shares of the company's stock, valued at $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is 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.