Swiss Life Asset Management Ltd Acquires 161,047 Shares of Baker Hughes Company $BKR

Swiss Life Asset Management Ltd boosted its holdings in Baker Hughes Company (NASDAQ:BKR) by 109.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 308,610 shares of the company’s stock after acquiring an additional 161,047 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Baker Hughes were worth $15,035,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Woodline Partners LP lifted its holdings in shares of Baker Hughes by 40.8% in the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after purchasing an additional 24,225 shares in the last quarter. Focus Partners Wealth grew its holdings in Baker Hughes by 5.6% during the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after buying an additional 986 shares in the last quarter. Cetera Investment Advisers raised its position in Baker Hughes by 4.7% in the 2nd quarter. Cetera Investment Advisers now owns 118,268 shares of the company’s stock valued at $4,534,000 after buying an additional 5,323 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Baker Hughes by 27.4% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 51,695 shares of the company’s stock valued at $1,982,000 after acquiring an additional 11,120 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Baker Hughes by 4.6% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 369,109 shares of the company’s stock worth $14,152,000 after acquiring an additional 16,071 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on BKR shares. Zephirin Group raised their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Citigroup increased their price objective on shares of Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Jefferies Financial Group boosted their target price on Baker Hughes from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Saturday, January 31st. Susquehanna upped their target price on Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, January 27th. Finally, Argus increased their price target on Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.61.

Baker Hughes Price Performance

BKR opened at $60.71 on Friday. The firm has a 50-day moving average price of $57.97 and a 200-day moving average price of $51.10. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $67.00. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $60.00 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.56 and a beta of 0.83.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. Baker Hughes’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. Equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is presently 35.38%.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the sale, the chief executive officer owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This represents a 23.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,985 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $55.77, for a total value of $110,703.45. Following the completion of the transaction, the chief accounting officer owned 12,052 shares of the company’s stock, valued at approximately $672,140.04. This represents a 14.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 590,251 shares of company stock valued at $35,311,023 over the last three months. Insiders own 0.27% of the company’s stock.

Baker Hughes Company 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.