9,800 Shares in Baker Hughes Company (NASDAQ:BKR) Bought by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

Key Points

• United Super Pty Ltd invested approximately $431,000 in Baker Hughes Company, acquiring 9,800 shares of the stock in the first quarter.
• CEO Lorenzo Simonelli recently sold 526,568 shares at an average price of $44.42, marking a significant decrease in his holdings.
• Analysts have set a consensus price target of $51.47 for Baker Hughes, with a "Moderate Buy" rating based on multiple reports from different investment firms.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,800 shares of the company's stock, valued at approximately $431,000.

A number of other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in Baker Hughes by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 145,525 shares of the company's stock worth $6,396,000 after acquiring an additional 4,632 shares during the last quarter. Commerce Bank increased its position in shares of Baker Hughes by 15.8% during the 1st quarter. Commerce Bank now owns 35,989 shares of the company's stock valued at $1,582,000 after purchasing an additional 4,914 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of Baker Hughes by 1.7% during the 1st quarter. Moors & Cabot Inc. now owns 55,266 shares of the company's stock valued at $2,429,000 after purchasing an additional 944 shares during the last quarter. Alberta Investment Management Corp bought a new position in shares of Baker Hughes during the 1st quarter valued at approximately $13,628,000. Finally, US Bancorp DE increased its position in shares of Baker Hughes by 2.8% during the 1st quarter. US Bancorp DE now owns 79,418 shares of the company's stock valued at $3,490,000 after purchasing an additional 2,193 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes 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 completion of the sale, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Susquehanna boosted their target price on Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Citigroup cut their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. BMO Capital Markets reissued 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. Piper Sandler cut their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Morgan Stanley boosted their target price on Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $51.47.

Baker Hughes Stock Down 0.4%

Shares of BKR stock traded down $0.17 during mid-day trading on Tuesday, hitting $43.35. The stock had a trading volume of 631,208 shares, compared to its average volume of 8,064,382. Baker Hughes Company has a 12-month low of $32.25 and a 12-month high of $49.40. The firm has a market capitalization of $42.74 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 5.35 and a beta of 0.94. The firm's 50-day moving average is $39.85 and its two-hundred day moving average is $40.92. 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 (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $6.64 billion. During the same period in the prior year, the business earned $0.57 EPS. The business's revenue for the quarter was down 3.2% compared to the same quarter last year. On average, 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 will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 5th. Baker Hughes's dividend payout ratio is currently 30.07%.

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.