Quantitative Investment Management LLC Buys Shares of 11,301 Baker Hughes Company $BKR

Key Points

• Quantitative Investment Management LLC has taken a new position in Baker Hughes, purchasing 11,301 shares for approximately $496,000 in the first quarter.
• Baker Hughes CEO Lorenzo Simonelli sold 526,568 shares for over $23 million, resulting in a significant decrease in his ownership stake of 44.10%.
• Equities analysts have mostly positive outlooks on Baker Hughes, with twenty analysts rating it a Buy and a consensus price target of $52.29.

Quantitative Investment Management LLC acquired a new stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,301 shares of the company's stock, valued at approximately $496,000.

A number of other hedge funds have also recently made changes to their positions in BKR. Nuveen LLC bought a new position in shares of Baker Hughes in the first quarter worth about $404,385,000. Pacer Advisors Inc. grew its holdings in shares of Baker Hughes by 2,585.6% in the first quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company's stock worth $169,511,000 after purchasing an additional 3,713,301 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Baker Hughes in the fourth quarter worth about $128,542,000. 1832 Asset Management L.P. purchased a new stake in Baker Hughes in the first quarter worth about $70,685,000. Finally, Northern Trust Corp lifted its stake in Baker Hughes by 18.4% in the fourth quarter. Northern Trust Corp now owns 10,000,756 shares of the company's stock worth $410,231,000 after acquiring an additional 1,553,536 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on BKR. BMO Capital Markets reaffirmed an "outperform" rating and issued a $53.00 price objective (up from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. TD Cowen upped their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Industrial Alliance Securities set a $53.00 price objective on shares of Baker Hughes in a research note on Wednesday, July 30th. The Goldman Sachs Group decreased 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 report on Wednesday, July 2nd. Finally, Morgan Stanley increased their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Twenty equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $52.29.

Baker Hughes Stock Performance

Shares of NASDAQ BKR traded up $0.78 during midday trading on Thursday, reaching $45.56. 4,218,295 shares of the stock were exchanged, compared to its average volume of 5,098,671. The firm has a market cap of $44.92 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 2.04 and a beta of 0.94. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. The firm has a 50-day simple moving average of $41.81 and a two-hundred day simple moving average of $40.69. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 14.56% and a net margin of 11.04%.The business's revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is presently 30.07%.

Insider Activity

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 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 trade represents a 44.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.27% of the company's stock.

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.