Baker Hughes Company $BKR Shares Bought by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management L.P. increased its stake in Baker Hughes Company by 24.1%, bringing its holdings to 108,458 shares valued at approximately $4.77 million.
• Multiple analysts have revised their price targets for Baker Hughes, with Morgan Stanley raising it from $45.00 to $55.00, indicating a positive outlook for the stock.
• Baker Hughes announced a quarterly dividend of $0.23 per share, yielding 2.1%, reflecting a strong commitment to returning value to shareholders.

Tocqueville Asset Management L.P. boosted its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 24.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,458 shares of the company's stock after buying an additional 21,065 shares during the period. Tocqueville Asset Management L.P.'s holdings in Baker Hughes were worth $4,767,000 at the end of the most recent reporting period.

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

Baker Hughes Stock Up 1.4%

Shares of BKR stock traded up $0.61 during trading hours on Thursday, reaching $43.46. 4,262,762 shares of the company's stock were exchanged, compared to its average volume of 7,844,146. The stock's 50 day moving average is $41.14 and its 200-day moving average is $40.80. The company has a market cap of $42.85 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 1.96 and a beta of 0.94. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly 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 the consensus estimate of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The business's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

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

Insider Activity

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the company'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 transaction, the chief executive officer directly owned 667,593 shares of the company's stock, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. BMO Capital Markets restated an "outperform" rating and set a $53.00 target price (up previously from $46.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Industrial Alliance Securities set a $53.00 price target on Baker Hughes in a report on Wednesday, July 30th. TD Cowen boosted 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. Morgan Stanley boosted their price target on Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Evercore ISI boosted their price target on Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Twenty equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.29.

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.