Savant Capital LLC Sells 50,275 Shares of Baker Hughes Company $BKR

Key Points

• Savant Capital LLC cut its Baker Hughes position by 63.5% in the fourth quarter, selling 50,275 shares and ending with 28,847 shares worth about $1.31 million.
• Insider selling was notable, including CEO Lorenzo Simonelli’s sale of 272,594 shares and Maria Georgia Magno’s sale of 5,063 shares; insiders sold 550,250 shares in the last quarter overall.
• Wall Street remains mostly positive on Baker Hughes, with 18 Buy ratings and a consensus “Moderate Buy” price target of $69.41, while the company also recently beat quarterly EPS expectations and paid a $0.23 per-share dividend.

Savant Capital LLC reduced its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 63.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,847 shares of the company's stock after selling 50,275 shares during the period. Savant Capital LLC's holdings in Baker Hughes were worth $1,314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. boosted its position in shares of Baker Hughes by 344.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company's stock worth $27,000 after purchasing an additional 468 shares during the last quarter. JFS Wealth Advisors LLC boosted its position in shares of Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock worth $37,000 after purchasing an additional 252 shares during the last quarter. Wolff Wiese Magana LLC boosted its position in shares of Baker Hughes by 55.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company's stock worth $38,000 after purchasing an additional 300 shares during the last quarter. Hilltop National Bank boosted its position in shares of Baker Hughes by 26.7% in the 4th quarter. Hilltop National Bank now owns 1,423 shares of the company's stock worth $65,000 after purchasing an additional 300 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in shares of Baker Hughes by 31.4% in the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the company's stock worth $66,000 after purchasing an additional 345 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Maria Georgia Magno sold 5,063 shares of the company's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total transaction of $298,919.52. Following the sale, the insider owned 15,555 shares in the company, valued at approximately $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the company's 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 sale, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. The trade was a 23.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 550,250 shares of company stock worth $32,988,331 in the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on BKR. Weiss Ratings reiterated a "buy (b)" rating on shares of Baker Hughes in a report on Friday, April 24th. Capital One Financial lifted their target price on Baker Hughes from $66.00 to $71.00 and gave the stock an "overweight" rating in a report on Thursday, May 21st. HSBC lifted their target price on Baker Hughes from $67.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, April 27th. UBS Group lifted their target price on Baker Hughes from $69.00 to $73.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. Finally, Piper Sandler lifted their target price on Baker Hughes from $64.00 to $72.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. Eighteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $69.41.

Baker Hughes Stock Performance

BKR opened at $62.97 on Tuesday. The business's 50-day moving average price is $63.74 and its two-hundred day moving average price is $56.95. Baker Hughes Company has a 1 year low of $36.82 and a 1 year high of $70.41. The company has a market capitalization of $62.47 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 2.27 and a beta of 0.97. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the business posted $0.51 EPS. The company's revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts expect that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, May 5th. Baker Hughes's dividend payout ratio is presently 29.39%.

Baker Hughes 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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