Healthcare of Ontario Pension Plan Trust Fund Increases Stock Holdings in Baker Hughes Company $BKR

Healthcare of Ontario Pension Plan Trust Fund boosted its position in Baker Hughes Company (NASDAQ:BKR) by 34.1% during the 4th quarter, HoldingsChannel reports. The firm owned 1,356,199 shares of the company’s stock after purchasing an additional 344,787 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Baker Hughes were worth $61,761,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Baker Hughes by 0.5% in the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after purchasing an additional 598,159 shares during the last quarter. State Street Corp boosted its position in Baker Hughes by 1.6% in the fourth quarter. State Street Corp now owns 61,409,438 shares of the company’s stock worth $2,796,586,000 after purchasing an additional 937,614 shares during the last quarter. Cardano Risk Management B.V. boosted its position in Baker Hughes by 1,005.1% in the fourth 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 during the last quarter. Capital World Investors boosted its position in Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after purchasing an additional 3,153,709 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Baker Hughes by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock worth $1,189,194,000 after purchasing an additional 204,534 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BKR has been the topic of several research reports. BMO Capital Markets raised their target price on Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. HSBC raised their target price on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Susquehanna raised their price objective on Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Finally, Johnson Rice started coverage on Baker Hughes in a research note on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price objective on the stock. Eighteen research 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. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $69.14.

Insider Transactions at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction that occurred on Wednesday, June 3rd. The stock was 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 trade represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% of the company’s stock.

Baker Hughes Price Performance

NASDAQ BKR opened at $63.14 on Monday. The stock’s 50-day moving average price is $64.12 and its 200-day moving average price is $57.94. 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 $37.38 and a 52 week high of $70.41. The company has a market capitalization of $62.64 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS 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 firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts predict that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend payout ratio (DPR) is 29.39%.

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.