Strs Ohio Takes $60.49 Million Position in Baker Hughes Company $BKR

Key Points

• Strs Ohio has acquired a new position in Baker Hughes Company, purchasing 1,376,334 shares valued at approximately $60.49 million, representing about 0.14% of the company's stock.
• CEO Lorenzo Simonelli sold over 526,000 shares for approximately $23.39 million, reducing his ownership by 44.1%, while company insiders hold only 0.27% of the stock.
• Baker Hughes reported $6.91 billion in revenue for the last quarter, exceeding analysts' expectations, and set its fiscal guidance for the current year, with analysts forecasting an earnings per share of 2.59.

Strs Ohio acquired a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,376,334 shares of the company's stock, valued at approximately $60,490,000. Strs Ohio owned about 0.14% of Baker Hughes as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC bought a new position in Baker Hughes during the first quarter worth $28,000. Golden State Wealth Management LLC boosted 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 in the last quarter. N.E.W. Advisory Services LLC bought a new position in Baker Hughes during the first quarter worth $30,000. Grove Bank & Trust boosted its stake in Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after acquiring an additional 320 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in Baker Hughes by 132.9% during the first quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after acquiring an additional 465 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.27% of the company's stock.

Baker Hughes Stock Performance

Shares of BKR stock opened at $46.92 on Thursday. The firm has a 50-day moving average of $43.12 and a 200-day moving average of $40.63. The company has a market cap of $46.26 billion, a P/E ratio of 15.33, a P/E/G ratio of 2.07 and a beta of 1.01. 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 Company has a one year low of $32.25 and a one year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.55 by $0.08. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BKR shares. Seaport Res Ptn lowered shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Susquehanna increased 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. The Goldman Sachs Group lowered their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a report on Wednesday, July 2nd. UBS Group restated a "neutral" rating and set a $46.00 price objective (up previously from $43.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Finally, 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 report on Thursday, July 24th. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus price target 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.

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