Baker Hughes Company $BKR Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Baker Hughes by 12.5%, now holding 125,459 shares valued at $4.81 million.
• Baker Hughes CEO Lorenzo Simonelli sold 526,568 shares at an average price of $44.42, reducing his ownership by 44.10%.
• The company recently declared a quarterly dividend of $0.23 per share, resulting in an annualized yield of 1.9%.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 12.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,459 shares of the company's stock after buying an additional 13,960 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Baker Hughes were worth $4,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in Baker Hughes by 2.8% during the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock valued at $27,314,000 after buying an additional 17,035 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Baker Hughes by 51.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock valued at $1,075,000 after purchasing an additional 8,351 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Baker Hughes by 7.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company's stock valued at $54,462,000 after purchasing an additional 82,706 shares during the last quarter. Stack Financial Management Inc bought a new stake in shares of Baker Hughes in the 1st quarter valued at approximately $12,890,000. Finally, Johnson Investment Counsel Inc. bought a new stake in shares of Baker Hughes in the 1st quarter valued at approximately $360,000. 92.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price target on Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. Barclays raised their price objective on Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. TD Cowen lifted their price target on Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Melius initiated coverage on Baker Hughes in a report on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price target on the stock. Finally, UBS Group reiterated a "neutral" rating and issued a $46.00 price target (up from $43.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Twenty-one analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.32.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the transaction, the chief executive officer 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 filing with the SEC, which is available through the SEC website. 0.27% of the stock is currently owned by company insiders.

Baker Hughes Stock Performance

BKR traded up $1.82 on Tuesday, reaching $49.49. 1,371,613 shares of the stock were exchanged, compared to its average volume of 7,547,058. The company's 50-day moving average price is $44.27 and its 200 day moving average price is $40.79. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week 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. The firm has a market capitalization of $48.79 billion, a PE ratio of 16.15, a PEG ratio of 2.15 and a beta of 1.01.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The company's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous 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, sell-side analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's payout ratio is 30.07%.

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.