US Bancorp DE raised its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 663,636 shares of the company's stock after acquiring an additional 52,183 shares during the quarter. US Bancorp DE owned about 0.07% of Baker Hughes worth $30,222,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Activest Wealth Management raised its holdings in Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company's stock valued at $26,000 after acquiring an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its holdings in Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company's stock valued at $32,000 after acquiring an additional 337 shares during the period. JFS Wealth Advisors LLC raised its holdings in Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock valued at $37,000 after acquiring an additional 252 shares during the period. Wolff Wiese Magana LLC raised its holdings in Baker Hughes by 55.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company's stock valued at $38,000 after acquiring an additional 300 shares during the period. Finally, Spire Wealth Management raised its holdings in Baker Hughes by 357.8% in the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company's stock valued at $50,000 after acquiring an additional 798 shares during the period. 92.06% of the stock is owned by institutional investors.
Insider Activity
In other Baker Hughes news, CAO Rebecca L. Charlton sold 843 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total value of $47,494.62. Following the sale, the chief accounting officer owned 14,019 shares in the company, valued at $789,830.46. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lorenzo Simonelli sold 272,594 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. This represents a 23.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 590,251 shares of company stock worth $35,311,023. Insiders own 0.19% of the company's stock.
Baker Hughes Stock Performance
NASDAQ BKR opened at $69.12 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $68.57 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 2.44 and a beta of 0.97. The firm's 50 day simple moving average is $61.92 and its 200 day simple moving average is $54.29. Baker Hughes Company has a 1 year low of $35.83 and a 1 year high of $70.41.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. As a group, research analysts expect that Baker Hughes Company will post 2.32 earnings per share for the current fiscal year.
Baker Hughes Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Tuesday, May 5th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.3%. Baker Hughes's dividend payout ratio (DPR) is currently 29.39%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Baker Hughes in a report on Friday, April 24th. Royal Bank Of Canada increased their target price on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. HSBC increased their target price on shares of Baker Hughes from $67.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Jefferies Financial Group restated a "buy" rating and set a $80.00 target price on shares of Baker Hughes in a research report on Sunday, April 26th. Finally, iA Financial set a $60.00 target price on shares of Baker Hughes in a research report on Tuesday, January 27th. Nineteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.09.
Read Our Latest Analysis on BKR
About Baker Hughes
(
Free Report)
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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