Baker Hughes Company $BKR Shares Purchased by Vest Financial LLC

Vest Financial LLC increased its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 66.6% in the second quarter, HoldingsChannel reports. The firm owned 742,494 shares of the company’s stock after buying an additional 296,796 shares during the quarter. Vest Financial LLC’s holdings in Baker Hughes were worth $28,467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Baker Hughes by 19.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,272,976 shares of the company’s stock valued at $281,391,000 after purchasing an additional 1,163,535 shares in the last quarter. LRI Investments LLC raised its position in shares of Baker Hughes by 59.3% in the 2nd quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Baker Hughes by 7.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 115,110 shares of the company’s stock valued at $4,414,000 after acquiring an additional 8,023 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Baker Hughes by 405.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 34,832 shares of the company’s stock valued at $1,335,000 after purchasing an additional 27,935 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its position in Baker Hughes by 9.7% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 16,084 shares of the company’s stock worth $617,000 after acquiring an additional 1,425 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the executive vice president directly owned 40,520 shares in the company, valued at approximately $2,026,000. The trade was a 38.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 553,068 shares of company stock worth $24,712,651. Insiders own 0.27% of the company’s stock.

Baker Hughes Trading Down 6.0%

Shares of BKR opened at $45.04 on Monday. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.92. The business’s fifty day moving average is $45.93 and its 200-day moving average is $41.31. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The firm has a market cap of $44.40 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 2.05 and a beta of 0.99.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The firm had revenue of $5.09 billion for the quarter. Equities analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

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

Wall Street Analyst Weigh In

BKR has been the subject of several research analyst reports. Royal Bank Of Canada upped their price objective on Baker Hughes from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Stifel Nicolaus lowered their target price on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Zephirin Group lifted their price objective on Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Finally, Capital One Financial lifted their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $52.57.

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.