Nordea Investment Management AB Increases Stock Position in Baker Hughes Company $BKR

Nordea Investment Management AB boosted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,755,743 shares of the company’s stock after purchasing an additional 309,996 shares during the period. Nordea Investment Management AB’s holdings in Baker Hughes were worth $125,813,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BKR. Vanguard Group Inc. boosted its position in Baker Hughes by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after buying an additional 598,159 shares during the last quarter. Capital World Investors grew its stake in shares of Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after acquiring an additional 3,153,709 shares in the last quarter. Capital Research Global Investors increased its position in shares of Baker Hughes by 7.1% during the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock worth $1,262,033,000 after acquiring an additional 1,728,016 shares during the last quarter. Norges Bank purchased a new stake in shares of Baker Hughes during the second quarter worth about $862,722,000. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Baker Hughes by 3.8% in the third quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock worth $843,653,000 after acquiring an additional 638,640 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Down 0.6%

Shares of Baker Hughes stock opened at $60.35 on Monday. 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 firm has a market cap of $59.64 billion, a P/E ratio of 23.21, a P/E/G ratio of 1.63 and a beta of 0.83. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $67.00. The business has a 50-day moving average price of $58.17 and a 200 day moving average price of $51.29.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Baker Hughes’s revenue for the quarter was up .3% compared to the same quarter last year. On average, sell-side analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

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

Insider Transactions at Baker Hughes

In related news, Director William G. Beattie sold 18,023 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Rebecca L. Charlton sold 1,985 shares of Baker Hughes 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 completion of the transaction, the chief accounting officer directly owned 12,052 shares of the company’s stock, valued at approximately $672,140.04. This represents a 14.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 590,251 shares of company stock valued at $35,311,023. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BKR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a report on Monday, December 29th. Barclays lifted their price objective on Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Jefferies Financial Group increased their target price on Baker Hughes from $59.00 to $67.00 and gave the company a “buy” rating in a research note on Saturday, January 31st. Stifel Nicolaus raised their price target on shares of Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 price target on shares of Baker Hughes in a research note on Thursday, January 15th. Twenty equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.