538,769 Shares in Baker Hughes Company $BKR Purchased by Zurich Insurance Group Ltd FI

Key Points

• Zurich Insurance Group Ltd FI acquired a new stake in Baker Hughes Company, purchasing 538,769 shares valued at approximately $23.68 million, which represents 0.05% of the company's shares.
• CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes, decreasing his ownership by 44.10% and raising over $23 million from the transaction.
• Baker Hughes reported $6.91 billion in revenue for the last quarter, exceeding analyst estimates of $6.64 billion, and is anticipated to post $2.59 earnings per share for the current fiscal year.

Zurich Insurance Group Ltd FI purchased a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 538,769 shares of the company's stock, valued at approximately $23,679,000. Zurich Insurance Group Ltd FI owned approximately 0.05% of Baker Hughes at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BKR. Wayfinding Financial LLC bought a new stake in shares of Baker Hughes in the first quarter valued at about $28,000. Golden State Wealth Management LLC lifted its position in shares of Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after purchasing an additional 604 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Baker Hughes in the first quarter worth $30,000. Grove Bank & Trust lifted its position 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 in the last quarter. Finally, Spire Wealth Management lifted its position in shares of 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 purchasing an additional 465 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of research reports. Morgan Stanley boosted their price objective on shares of Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Seaport Res Ptn lowered shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Industrial Alliance Securities set a $53.00 price objective on shares of Baker Hughes in a research report on Wednesday, July 30th. Stifel Nicolaus cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Finally, Barclays boosted their price objective on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. 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, the company presently has an average rating of "Moderate Buy" and an average target price of $52.29.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by insiders.

Baker Hughes Stock Performance

Shares of BKR traded down $0.48 during trading hours on Friday, hitting $46.49. The company had a trading volume of 4,014,997 shares, compared to its average volume of 4,764,843. The firm has a market cap of $45.83 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 2.14 and a beta of 1.01. The business has a fifty day moving average of $43.40 and a 200-day moving average of $40.66. Baker Hughes Company has a 12 month low of $33.13 and a 12 month high of $49.40. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.08. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company's revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. Baker Hughes's dividend payout ratio is presently 30.07%.

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.