Vontobel Holding Ltd. Has $4.77 Million Stock Holdings in Baker Hughes Company $BKR

Key Points

• Vontobel Holding Ltd. has increased its stake in Baker Hughes Company by 7.4% in the second quarter, bringing its total holdings to $4.77 million with 124,430 shares.
• Multiple institutional investors have also increased their positions in Baker Hughes, with notable increases from Maryland State Retirement & Pension System and KLP Kapitalforvaltning AS, among others.
• Baker Hughes recently reported $0.16 earnings per share for the quarter ending November 18th, and analysts predict positive growth with an average price target of $52.57 for the stock.

Vontobel Holding Ltd. increased its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,430 shares of the company's stock after acquiring an additional 8,558 shares during the period. Vontobel Holding Ltd.'s holdings in Baker Hughes were worth $4,771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Maryland State Retirement & Pension System boosted its position in shares of Baker Hughes by 3.3% during the 2nd quarter. Maryland State Retirement & Pension System now owns 48,202 shares of the company's stock worth $1,848,000 after acquiring an additional 1,544 shares in the last quarter. KLP Kapitalforvaltning AS boosted its position in shares of Baker Hughes by 3.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 410,318 shares of the company's stock worth $15,732,000 after acquiring an additional 15,300 shares in the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of Baker Hughes during the 2nd quarter worth approximately $2,739,000. Drake & Associates LLC lifted its stake in Baker Hughes by 78.7% in the 2nd quarter. Drake & Associates LLC now owns 67,279 shares of the company's stock valued at $2,579,000 after purchasing an additional 29,626 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its stake in Baker Hughes by 2.1% in the 2nd quarter. Valley National Advisers Inc. now owns 28,267 shares of the company's stock valued at $1,083,000 after purchasing an additional 593 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Insider Buying and Selling

In related news, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares of the company's stock, valued at $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 553,068 shares of company stock valued at $24,712,651 over the last quarter. Insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

BKR has been the subject of several research reports. Seaport Res Ptn downgraded shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Capital One Financial increased their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. UBS Group increased their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a "neutral" rating in a research note on Monday. Melius initiated coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price objective for the company. Finally, Susquehanna increased their price objective on shares of Baker Hughes from $52.00 to $56.00 and gave the company a "positive" rating in a research note on Thursday, October 2nd. Twenty-two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and an average price target of $52.57.

Baker Hughes Price Performance

BKR stock opened at $45.04 on Friday. The company has a fifty day moving average price of $45.93 and a 200-day moving average price of $41.34. The company has a market capitalization of $44.40 billion, a P/E ratio of 14.72, a PEG ratio of 2.18 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 released its quarterly 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 during the quarter. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. As a group, equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current 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 paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) 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.

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