Lmcg Investments LLC Acquires 12,842 Shares of Baker Hughes Company $BKR

Lmcg Investments LLC grew its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 11.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 120,851 shares of the company’s stock after buying an additional 12,842 shares during the period. Lmcg Investments LLC’s holdings in Baker Hughes were worth $7,378,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cardano Risk Management B.V. raised its holdings in Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock worth $2,247,550,000 after purchasing an additional 44,887,481 shares in the last quarter. Norges Bank bought a new stake in shares of Baker Hughes during the 4th quarter valued at about $1,022,491,000. Capital International Investors purchased a new position in shares of Baker Hughes during the third quarter valued at about $729,670,000. Price T Rowe Associates Inc. MD increased its position in shares of Baker Hughes by 58.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company’s stock valued at $529,896,000 after buying an additional 4,278,573 shares during the period. Finally, Bessemer Group Inc. raised its stake in Baker Hughes by 12,983.5% in the fourth quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock worth $158,994,000 after buying an additional 3,464,637 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on BKR shares. Citigroup raised their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday. Capital One Financial increased their target price on Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Evercore restated an “outperform” rating and issued a $76.00 target price on shares of Baker Hughes in a research note on Monday, April 27th. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $74.00 price target (up from $62.00) on shares of Baker Hughes in a research note on Thursday, May 7th. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.14.

Baker Hughes Price Performance

BKR stock opened at $57.61 on Thursday. The firm has a 50 day moving average price of $62.21 and a 200-day moving average price of $59.05. Baker Hughes Company has a 52-week low of $38.37 and a 52-week high of $70.41. The firm has a market capitalization of $57.15 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the business posted $0.51 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Baker Hughes Company will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the sale, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is owned by insiders.

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.