Generali Asset Management SPA SGR Decreases Stake in Baker Hughes Company $BKR

Generali Asset Management SPA SGR reduced its position in Baker Hughes Company (NASDAQ:BKR) by 34.6% during the third quarter, HoldingsChannel reports. The fund owned 87,249 shares of the company’s stock after selling 46,217 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Baker Hughes were worth $4,251,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BKR. Ninety One UK Ltd increased its stake in shares of Baker Hughes by 8.8% in the third quarter. Ninety One UK Ltd now owns 364,901 shares of the company’s stock worth $17,778,000 after purchasing an additional 29,469 shares in the last quarter. Mather Group LLC. boosted its holdings in Baker Hughes by 31.4% in the 3rd quarter. Mather Group LLC. now owns 11,400 shares of the company’s stock worth $555,000 after buying an additional 2,721 shares during the period. Miracle Mile Advisors LLC grew its stake in Baker Hughes by 7.3% in the 3rd quarter. Miracle Mile Advisors LLC now owns 7,746 shares of the company’s stock valued at $377,000 after buying an additional 524 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Baker Hughes by 15.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,418,214 shares of the company’s stock valued at $407,105,000 after buying an additional 1,145,238 shares in the last quarter. Finally, Merit Financial Group LLC raised its holdings in Baker Hughes by 144.3% during the 3rd quarter. Merit Financial Group LLC now owns 22,680 shares of the company’s stock valued at $1,105,000 after acquiring an additional 13,398 shares during the period. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 3.5%

BKR stock opened at $47.14 on Friday. The company’s 50 day moving average is $47.56 and its 200 day moving average is $45.25. The stock has a market cap of $46.52 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 1.60 and a beta of 0.90. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $51.12.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The business had revenue of $5.09 billion during the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. Sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were paid a $0.23 dividend. 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, November 4th. Baker Hughes’s dividend payout ratio is currently 31.72%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Capital One Financial raised their price target on Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Zephirin Group increased 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. Royal Bank Of Canada raised their target price on Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. HSBC upped their price target on Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Finally, UBS Group raised their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Twenty-three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.92.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.