Private Wealth Partners LLC Buys 30,150 Shares of Baker Hughes Company $BKR

Key Points

• Private Wealth Partners LLC increased its stake in Baker Hughes by 164.3%, buying 30,150 shares to hold 48,500 shares worth $2.209 million at the end of the quarter.
• CEO Lorenzo Simonelli sold 272,594 shares for about $16.0 million and insiders sold a total of 590,251 shares (~$35.31M) over the past 90 days, while institutional investors own 92.06% of the company and insiders just 0.19%.
• Baker Hughes beat Q4 estimates with $0.78 EPS vs. $0.67 expected and $7.39B revenue vs. $7.09B, has a consensus rating of "Moderate Buy" with a $61.30 target, and pays a $0.23 quarterly dividend (1.6% yield).

Private Wealth Partners LLC boosted its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 164.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,500 shares of the company's stock after acquiring an additional 30,150 shares during the period. Private Wealth Partners LLC's holdings in Baker Hughes were worth $2,209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management raised its position in shares of Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company's stock worth $26,000 after purchasing an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company's stock valued at $32,000 after purchasing an additional 337 shares during the last quarter. JFS Wealth Advisors LLC increased its position in shares of Baker Hughes by 45.1% during the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock valued at $37,000 after purchasing an additional 252 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in shares of Baker Hughes by 55.6% during the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company's stock valued at $38,000 after acquiring an additional 300 shares during the period. Finally, Spire Wealth Management grew its stake in shares of Baker Hughes by 357.8% during the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company's stock valued at $50,000 after acquiring an additional 798 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $59.17 on Tuesday. The stock has a market capitalization of $58.47 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.03 and a beta of 0.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. The firm's 50 day simple moving average is $61.07 and its 200-day simple moving average is $53.34. Baker Hughes Company has a 12 month low of $34.56 and a 12 month high of $67.00.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business had revenue of $7.39 billion during the quarter, compared to analysts' expectations of $7.09 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The business's revenue was up .3% compared to the same quarter last year. Analysts expect that Baker Hughes Company will post 2.4 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 annualized dividend and a yield of 1.6%. Baker Hughes's dividend payout ratio is presently 35.38%.

Analysts Set New Price Targets

BKR has been the subject of several recent analyst reports. Evercore restated an "outperform" rating and issued a $68.00 price target on shares of Baker Hughes in a research note on Wednesday, February 11th. Capital One Financial increased their price target on Baker Hughes from $60.00 to $66.00 and gave the company an "overweight" rating in a report on Friday, April 10th. Argus increased their price target on Baker Hughes from $55.00 to $67.00 in a report on Tuesday, January 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Baker Hughes in a research note on Monday, December 29th. Finally, Zephirin Group raised their price target on Baker Hughes from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Monday, January 26th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.30.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the transaction, the chief executive officer owned 866,444 shares in the company, valued at approximately $50,938,242.76. This represents a 23.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William G. Beattie sold 18,023 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 590,251 shares of company stock worth $35,311,023 in the last 90 days. Insiders own 0.19% of the company's stock.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm's roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE's oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.

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