Baker Hughes Company $BKR Shares Sold by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd cut its holdings in Baker Hughes Company (NASDAQ:BKR) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 298,002 shares of the company’s stock after selling 10,608 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Baker Hughes were worth $13,571,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BKR. Capital International Investors purchased a new stake in Baker Hughes in the 3rd quarter worth $729,670,000. Capital World Investors lifted its holdings in Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in Baker Hughes during the fourth quarter valued at $119,078,000. First Trust Advisors LP grew its position in shares of Baker Hughes by 25.7% in the third quarter. First Trust Advisors LP now owns 9,325,417 shares of the company’s stock valued at $454,334,000 after purchasing an additional 1,906,384 shares during the period. Finally, Capital Research Global Investors grew its position in shares of Baker Hughes by 7.1% in the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock valued at $1,262,033,000 after purchasing an additional 1,728,016 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $64.60 on Tuesday. The firm has a 50-day simple moving average of $62.04 and a 200-day simple moving average of $55.12. The stock has a market capitalization of $64.09 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 52 week low of $35.83 and a 52 week high of $70.41.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 earnings per share. On average, equities analysts predict that Baker Hughes Company will post 2.32 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, May 5th. Baker Hughes’s dividend payout ratio is 29.39%.

Insider Transactions at Baker Hughes

In other news, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the sale, the insider directly owned 15,555 shares in the company, valued at $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lorenzo Simonelli sold 272,594 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at $50,938,242.76. This represents a 23.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 550,250 shares of company stock valued at $32,988,331 over the last quarter. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BKR. Jefferies Financial Group restated a “buy” rating and set a $80.00 price target on shares of Baker Hughes in a research report on Sunday, April 26th. Citigroup lifted their price objective on Baker Hughes from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Zacks Research lowered Baker Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Stifel Nicolaus raised their target price on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Eighteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $69.18.

Baker Hughes Profile

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.