Vanguard Personalized Indexing Management LLC Purchases 8,023 Shares of Baker Hughes Company $BKR

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Baker Hughes Company by 7.5%, acquiring an additional 8,023 shares, bringing its total holdings to 115,110 shares valued at approximately $4.4 million.
• Baker Hughes has received several upgrades from analysts, with target prices rising to as high as $54.00 from firms like TD Cowen and Royal Bank of Canada, indicating strong investor confidence.
• The company recently declared a quarterly dividend of $0.23 per share, representing an annual yield of 2.1%, and has a payout ratio of 30.07%.

Vanguard Personalized Indexing Management LLC increased its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 7.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,110 shares of the company's stock after purchasing an additional 8,023 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Baker Hughes were worth $4,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of BKR. Wayfinding Financial LLC bought a new stake in shares of Baker Hughes in the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC boosted its holdings in Baker Hughes by 678.7% in 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 in the last quarter. N.E.W. Advisory Services LLC bought a new stake in Baker Hughes in the first quarter valued at $30,000. Grove Bank & Trust boosted its holdings in Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after acquiring an additional 320 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after acquiring an additional 465 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BKR has been the topic of a number of research reports. BMO Capital Markets reaffirmed an "outperform" rating and set a $53.00 target price (up previously from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. TD Cowen lifted their price objective on Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Royal Bank Of Canada lifted their price objective on Baker Hughes from $50.00 to $54.00 and gave the company an "outperform" rating in a research report on Thursday, October 9th. The Goldman Sachs Group dropped their price target on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Baker Hughes in a research report on Wednesday, October 8th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.57.

Baker Hughes Trading Down 1.5%

Shares of NASDAQ BKR opened at $44.83 on Wednesday. The firm's 50 day moving average price is $45.99 and its 200-day moving average price is $41.35. The company has a market cap of $44.20 billion, a PE ratio of 14.65, a P/E/G ratio of 2.07 and a beta of 0.99. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.92. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $5.09 billion for the quarter. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. On average, equities research analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis 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 other Baker Hughes news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the transaction, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This represents a 38.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 553,068 shares of company stock valued at $24,712,651 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

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.

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