Baker Hughes Company $BKR Shares Sold by Gradient Investments LLC

Gradient Investments LLC decreased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 457,399 shares of the company’s stock after selling 14,322 shares during the period. Gradient Investments LLC’s holdings in Baker Hughes were worth $20,830,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Activest Wealth Management boosted 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 worth $26,000 after buying an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Baker Hughes by 104.0% during the 3rd 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 period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Baker Hughes during the 2nd quarter worth about $36,000. Spire Wealth Management boosted its position in shares of Baker Hughes by 357.8% in the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after acquiring an additional 798 shares during the last quarter. Finally, N.E.W. Advisory Services LLC boosted its position in shares of Baker Hughes by 60.6% in the third quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company’s stock worth $54,000 after acquiring an additional 416 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction dated 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 owned 15,555 shares in the company, valued at approximately $918,367.20. This trade represents a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rebecca L. Charlton sold 843 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total value of $47,494.62. Following the sale, the chief accounting officer owned 14,019 shares in the company, valued at approximately $789,830.46. The trade was a 5.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 590,251 shares of company stock worth $35,311,023 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Performance

Shares of BKR stock opened at $60.35 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The company has a market cap of $59.64 billion, a PE ratio of 23.21, a P/E/G ratio of 1.63 and a beta of 0.83. The company’s fifty day simple moving average is $58.17 and its 200-day simple moving average is $51.29. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $67.00.

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

Baker Hughes Dividend Announcement

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

Analysts Set New Price Targets

BKR has been the subject of several research analyst reports. Evercore reaffirmed an “outperform” rating and set a $68.00 price target on shares of Baker Hughes in a research report on Wednesday, February 11th. Susquehanna lifted their price target on shares of Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, January 27th. BMO Capital Markets boosted their price objective on shares of Baker Hughes from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Capital One Financial upped their price objective on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Finally, TD Cowen lifted their target price on Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $59.61.

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.