The Manufacturers Life Insurance Company Has $30.47 Million Stock Position in Baker Hughes Company $BKR

Key Points

• The Manufacturers Life Insurance Company has reduced its holdings in Baker Hughes Company by 4.5%, selling 32,756 shares to own a total of 693,381 shares valued at approximately $30.47 million.
• Institutional investors have been active in Baker Hughes, with the Canada Pension Plan Investment Board increasing its position by 462.2% and other firms also significantly raising their stakes during the same period.
• Baker Hughes recently announced a quarterly dividend of $0.23 per share, translating to an annual yield of 2.0% based on a payout ratio of 30.07%.

The Manufacturers Life Insurance Company lowered its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 4.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 693,381 shares of the company's stock after selling 32,756 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Baker Hughes worth $30,474,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Wayfinding Financial LLC purchased a new position in Baker Hughes in the first quarter valued at about $28,000. N.E.W. Advisory Services LLC bought a new stake in shares of Baker Hughes in the 1st quarter worth approximately $30,000. Golden State Wealth Management LLC lifted its holdings in shares of Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after purchasing an additional 604 shares during the last quarter. Grove Bank & Trust lifted its holdings in shares of Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after purchasing an additional 320 shares during the last quarter. Finally, Spire Wealth Management lifted its holdings in shares of 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. Institutional investors and hedge funds own 92.06% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BKR. Industrial Alliance Securities set a $53.00 price target on Baker Hughes in a report on Wednesday, July 30th. Melius Research began 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. Jefferies Financial Group set a $58.00 price target on Baker Hughes in a report on Wednesday, July 30th. UBS Group reaffirmed a "neutral" rating and set a $46.00 target price (up previously from $43.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Finally, Barclays lifted their target price on Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Twenty research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.29.

Insider Activity at Baker Hughes

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

Baker Hughes Price Performance

Shares of NASDAQ BKR traded down $0.74 during mid-day trading on Friday, reaching $45.58. The company had a trading volume of 4,978,368 shares, compared to its average volume of 4,901,357. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The stock has a market cap of $44.94 billion, a PE ratio of 14.90, a P/E/G ratio of 2.11 and a beta of 1.01. The company has a 50-day moving average price of $42.69 and a two-hundred day moving average price of $40.64. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its 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 business had revenue of $6.91 billion for 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 quarterly revenue was down 3.2% on a year-over-year basis. During the same period 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. On average, equities analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is 30.07%.

Baker Hughes 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.