Baker Hughes Company $BKR Stock Position Reduced by Bleakley Financial Group LLC

Bleakley Financial Group LLC trimmed its position in Baker Hughes Company (NASDAQ:BKR) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,557 shares of the company’s stock after selling 339 shares during the quarter. Bleakley Financial Group LLC’s holdings in Baker Hughes were worth $826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Baker Hughes during the first quarter worth $404,385,000. Pacer Advisors Inc. raised its stake in Baker Hughes by 2,585.6% during the first quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company’s stock worth $169,511,000 after acquiring an additional 3,713,301 shares during the period. 1832 Asset Management L.P. acquired a new stake in Baker Hughes during the first quarter worth about $70,685,000. Strs Ohio bought a new position in Baker Hughes in the first quarter worth about $60,490,000. Finally, AQR Capital Management LLC grew its holdings in shares of Baker Hughes by 27.8% during the first quarter. AQR Capital Management LLC now owns 5,457,164 shares of the company’s stock valued at $234,958,000 after purchasing an additional 1,185,456 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the sale, the executive vice president owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. The trade was a 38.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at $588,600. This represents a 7.83% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $47.30 on Friday. The stock has a market cap of $46.63 billion, a P/E ratio of 16.31, a P/E/G ratio of 2.04 and a beta of 0.99. The firm’s 50-day simple moving average is $46.53 and its 200 day simple moving average is $41.73. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. 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) last released its earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The firm had revenue of $5.09 billion for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.41%. Equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

Wall Street Analysts Forecast Growth

BKR has been the topic of several recent research reports. Piper Sandler raised their price target on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Morgan Stanley increased their target price on Baker Hughes from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Zephirin Group boosted their price target on shares of Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. TD Cowen upped their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Melius assumed coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They set a “buy” rating and a $60.00 target price for the company. Twenty-one research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $52.91.

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.