Baker Hughes Company $BKR Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. cut its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 26.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 80,036 shares of the company’s stock after selling 29,159 shares during the period. Reinhart Partners LLC.’s holdings in Baker Hughes were worth $3,645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. grew its position in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after buying an additional 468 shares in the last quarter. JFS Wealth Advisors LLC grew its position in shares of Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after buying an additional 252 shares in the last quarter. Wolff Wiese Magana LLC boosted its holdings in Baker Hughes by 55.6% in the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after purchasing an additional 300 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in Baker Hughes by 23.5% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company’s stock valued at $69,000 after purchasing an additional 270 shares in the last quarter. Finally, Hilltop National Bank boosted its holdings in Baker Hughes by 26.7% in the fourth quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BKR. Citigroup upped their price target on Baker Hughes from $69.00 to $80.00 and gave the company a “buy” rating in a report on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a report on Friday, April 24th. Piper Sandler upped their price target on Baker Hughes from $64.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. BMO Capital Markets upped their price target on Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, HSBC upped their price target on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a report on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.41.

Baker Hughes Price Performance

BKR stock opened at $64.54 on Wednesday. The company has a market capitalization of $64.03 billion, a P/E ratio of 20.62, a PEG ratio of 2.24 and a beta of 0.93. Baker Hughes Company has a twelve month low of $36.89 and a twelve month high of $70.41. The business has a 50 day simple moving average of $63.74 and a 200-day simple moving average of $56.95. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. As a group, equities analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is presently 29.39%.

Insider Activity at Baker Hughes

In other news, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was 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 of the company’s stock, valued at approximately $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the sale, the chief executive officer owned 866,444 shares of the company’s stock, valued at $50,938,242.76. This trade represents a 23.93% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by corporate 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.