State of New Jersey Common Pension Fund D Has $14.42 Million Stake in Baker Hughes Company $BKR

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Baker Hughes Company by 8.0%, owning 328,135 shares after selling 28,611 shares in the first quarter.
• Baker Hughes CEO Lorenzo Simonelli sold 526,568 shares recently, decreasing his ownership by 44.10% and maintaining 667,593 shares valued at approximately $29.65 million.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Baker Hughes, with price targets varying between $41.00 and $55.00.

State of New Jersey Common Pension Fund D lessened its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 8.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 328,135 shares of the company's stock after selling 28,611 shares during the period. State of New Jersey Common Pension Fund D's holdings in Baker Hughes were worth $14,422,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wayfinding Financial LLC bought a new stake in shares of Baker Hughes in the 1st quarter worth about $28,000. Golden State Wealth Management LLC raised its stake in Baker Hughes by 678.7% during the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after acquiring an additional 604 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Baker Hughes in the first quarter valued at approximately $30,000. Grove Bank & Trust boosted its holdings in shares of Baker Hughes by 76.2% during 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 grew its position in Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after purchasing an additional 465 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction 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. The trade was a 44.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Baker Hughes Trading Down 0.2%

Shares of NASDAQ BKR traded down $0.10 during mid-day trading on Wednesday, hitting $42.85. 4,326,769 shares of the company traded hands, compared to its average volume of 7,866,825. 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 Company has a 1 year low of $32.25 and a 1 year high of $49.40. The stock has a market capitalization of $42.24 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.95 and a beta of 0.94. The business has a 50 day moving average of $41.07 and a two-hundred day moving average of $40.79.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The business's revenue for the quarter was down 3.2% compared to the same quarter last year. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's payout ratio is presently 30.07%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BMO Capital Markets reissued an "outperform" rating and set a $53.00 target price (up previously from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. TD Securities lowered their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Industrial Alliance Securities set a $53.00 price target on Baker Hughes in a research note on Wednesday, July 30th. Melius initiated coverage on Baker Hughes in a research note on Wednesday. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, Royal Bank Of Canada cut their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $52.29.

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.