NewEdge Advisors LLC Grows Position in Baker Hughes Company $BKR

NewEdge Advisors LLC grew its stake in Baker Hughes Company (NASDAQ:BKR) by 54.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 59,390 shares of the company’s stock after buying an additional 21,047 shares during the period. NewEdge Advisors LLC’s holdings in Baker Hughes were worth $3,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BKR. Groupama Asset Managment increased its position in shares of Baker Hughes by 0.6% in the 1st quarter. Groupama Asset Managment now owns 1,932,305 shares of the company’s stock valued at $117,967,000 after acquiring an additional 11,297 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Baker Hughes in the 1st quarter worth $356,000. BankChampaign National Association acquired a new stake in Baker Hughes during the 1st quarter worth about $989,000. Groupe la Francaise lifted its holdings in shares of Baker Hughes by 10.0% during the first quarter. Groupe la Francaise now owns 73,059 shares of the company’s stock worth $4,460,000 after purchasing an additional 6,655 shares during the period. Finally, Liontrust Investment Partners LLP purchased a new stake in shares of Baker Hughes in the 1st quarter valued at $10,620,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the transaction, the chief executive officer owned 703,444 shares in the company, valued at $41,102,232.92. This trade represents a 20.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 367,910 shares of company stock valued at $22,420,797 over the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

BKR has been the topic of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Barclays lowered their price objective on Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, July 16th. Zacks Research raised shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Argus lifted their price target on Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. Finally, Evercore reiterated an “outperform” rating and issued a $76.00 target price on shares of Baker Hughes in a report on Monday, April 27th. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.95.

Baker Hughes Price Performance

BKR stock opened at $64.28 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $63.81 billion, a P/E ratio of 20.74, a PEG ratio of 2.01 and a beta of 0.97. The business has a 50 day simple moving average of $59.06 and a 200-day simple moving average of $60.95. Baker Hughes Company has a twelve month low of $41.96 and a twelve month high of $70.41.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Sunday, July 26th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.54 billion. During the same period in the previous year, the company posted $0.63 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts anticipate that Baker Hughes Company will post 2.52 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be paid a $0.23 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. Baker Hughes’s payout ratio is currently 29.68%.

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.