Artisan Partners Limited Partnership Buys 638,640 Shares of Baker Hughes Company $BKR

Artisan Partners Limited Partnership raised its stake in Baker Hughes Company (NASDAQ:BKR) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,316,358 shares of the company’s stock after purchasing an additional 638,640 shares during the period. Baker Hughes accounts for approximately 1.2% of Artisan Partners Limited Partnership’s investment portfolio, making the stock its 22nd biggest position. Artisan Partners Limited Partnership’s holdings in Baker Hughes were worth $843,653,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BKR. Activest Wealth Management grew its stake in Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after buying an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after acquiring an additional 337 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new stake in shares of Baker Hughes during the second quarter worth approximately $36,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Baker Hughes during the second quarter worth approximately $36,000. Finally, Rothschild Investment LLC grew its position in shares of Baker Hughes by 66.6% in the second quarter. Rothschild Investment LLC now owns 1,241 shares of the company’s stock valued at $48,000 after purchasing an additional 496 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Up 0.1%

Shares of BKR opened at $64.90 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $65.67. The firm has a market cap of $64.14 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.76 and a beta of 0.89. The business’s fifty day moving average is $54.10 and its 200-day moving average is $49.46.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same period in the prior year, the company earned $0.70 EPS. Baker Hughes’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. Baker Hughes’s payout ratio is 35.38%.

Analysts Set New Price Targets

Several research firms recently weighed in on BKR. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a report on Monday, December 29th. Susquehanna increased their price objective on Baker Hughes from $58.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday, January 27th. Zephirin Group boosted their target price 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. Capital One Financial upped their price target on shares of Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Finally, Evercore reiterated an “outperform” rating and issued a $68.00 price objective on shares of Baker Hughes in a research note on Wednesday, February 11th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.39.

Insider Buying and Selling

In other Baker Hughes news, insider Maria Georgia Magno sold 19,150 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the sale, the insider owned 14,588 shares of the company’s stock, valued at approximately $862,296.68. The trade was a 56.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Rebecca L. Charlton sold 1,985 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $55.77, for a total transaction of $110,703.45. Following the transaction, the chief accounting officer owned 12,052 shares of the company’s stock, valued at $672,140.04. This trade represents a 14.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,001 shares of company stock worth $2,322,692 in the last three months. 0.27% of the stock is owned by corporate insiders.

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.