Raymond James Financial Inc. Sells 556,936 Shares of Baker Hughes Company $BKR

Key Points

• Raymond James Financial Inc. reduced its holdings in Baker Hughes by 7.8%, owning about 6.54 million shares valued at $287.62 million after selling 556,936 shares in the first quarter.
• Research firms have increased price targets for Baker Hughes, with Susquehanna raising it from $46.00 to $52.00 and BMO Capital Markets setting a target of $53.00, reflecting positive analyst sentiment.
• Baker Hughes reported $0.63 earnings per share for the last quarter, exceeding estimates, despite a 3.2% year-over-year decline in revenue, totaling $6.91 billion.

Raymond James Financial Inc. reduced its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 7.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,544,209 shares of the company's stock after selling 556,936 shares during the quarter. Raymond James Financial Inc. owned about 0.66% of Baker Hughes worth $287,619,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Baker Hughes in the first quarter valued at approximately $28,000. Golden State Wealth Management LLC boosted its position in shares of 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 period. N.E.W. Advisory Services LLC bought a new position in shares of Baker Hughes in the first quarter valued at approximately $30,000. Grove Bank & Trust boosted its position in shares of 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 period. Finally, Spire Wealth Management boosted its position in shares of 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 period. 92.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BKR. Royal Bank Of Canada dropped their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Melius began coverage on shares of Baker Hughes in a research note on Wednesday. They issued a "buy" rating and a $60.00 target price on the stock. 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 research note on Thursday, July 24th. Evercore ISI boosted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Industrial Alliance Securities set a $53.00 target price on shares of Baker Hughes in a report on Wednesday, July 30th. Twenty equities 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.29.

Baker Hughes Stock Up 3.0%

Baker Hughes stock traded up $1.3050 during mid-day trading on Friday, reaching $44.7650. The stock had a trading volume of 1,597,021 shares, compared to its average volume of 7,804,561. The company has a market capitalization of $44.13 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.95 and a beta of 0.94. The company has a 50-day moving average price of $41.24 and a two-hundred day moving average price of $40.78. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.08. The company had revenue of $6.91 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio is currently 30.07%.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.27% of the company's stock.

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.