Titan Investment Solutions Ltd Invests $1.17 Million in Baker Hughes Company $BKR

Key Points

• Titan Investment Solutions Ltd opened a new position in Baker Hughes during the fourth quarter, buying 25,752 shares valued at about $1.17 million.
• Institutional ownership remains very high, with hedge funds and other large investors holding about 92.06% of the company; several big firms also increased their stakes recently.
• Baker Hughes posted better-than-expected EPS of $0.58 in its latest quarter, while analysts have turned increasingly positive, with a consensus rating of Moderate Buy and an average price target of $69.14.

Titan Investment Solutions Ltd acquired a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 25,752 shares of the company's stock, valued at approximately $1,173,000.

Several other large investors have also recently modified their holdings of BKR. Vanguard Group Inc. grew its stake in shares of Baker Hughes by 0.5% in the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company's stock worth $6,035,924,000 after purchasing an additional 598,159 shares during the last quarter. Cardano Risk Management B.V. grew its stake in shares of Baker Hughes by 1,005.1% in the fourth quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company's stock worth $2,247,550,000 after purchasing an additional 44,887,481 shares during the last quarter. Capital World Investors grew its stake in shares of Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company's stock worth $2,316,462,000 after purchasing an additional 3,153,709 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Baker Hughes by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company's stock worth $1,189,194,000 after purchasing an additional 204,534 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Baker Hughes by 7.1% in the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company's stock worth $1,262,033,000 after purchasing an additional 1,728,016 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Insider Activity at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the transaction, the chief accounting officer directly owned 15,997 shares in the company, valued at $1,027,327.34. The trade was a 24.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BKR has been the topic of several recent analyst reports. Piper Sandler raised their target price on Baker Hughes from $64.00 to $72.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Susquehanna raised their target price on Baker Hughes from $70.00 to $80.00 and gave the stock a "positive" rating in a research note on Monday, April 27th. Jefferies Financial Group reissued a "buy" rating and issued a $80.00 target price on shares of Baker Hughes in a research note on Sunday, April 26th. Stifel Nicolaus raised their target price on Baker Hughes from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Finally, Barclays reissued an "equal weight" rating and issued a $74.00 target price (up from $62.00) on shares of Baker Hughes in a research note on Thursday, May 7th. Eighteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $69.14.

Baker Hughes Stock Performance

Shares of BKR opened at $63.14 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The business's 50 day moving average price is $64.12 and its 200-day moving average price is $57.88. Baker Hughes Company has a 52 week low of $37.38 and a 52 week high of $70.41. The stock has a market cap of $62.64 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.26 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $6.71 billion. During the same period in the previous year, the firm posted $0.51 EPS. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes's payout ratio is currently 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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