Daiwa Securities Group Inc. Raises Holdings in Baker Hughes Company $BKR

Daiwa Securities Group Inc. grew its position in shares of Baker Hughes Company (NASDAQ:BKR) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 247,916 shares of the company’s stock after purchasing an additional 13,309 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Baker Hughes were worth $11,290,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Pinion Investment Advisors LLC purchased a new position in shares of Baker Hughes during the fourth quarter worth about $778,000. Nordea Investment Management AB grew its holdings in shares of Baker Hughes by 12.7% during the fourth quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock worth $125,813,000 after purchasing an additional 309,996 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Baker Hughes by 5.4% during the third quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock worth $348,234,000 after purchasing an additional 367,728 shares during the last quarter. Cibc World Market Inc. grew its holdings in shares of Baker Hughes by 13.6% during the third quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after purchasing an additional 99,314 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Baker Hughes by 10,225.3% during the third quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company’s stock worth $41,391,000 after purchasing an additional 841,338 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes 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 value 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. The trade was 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the sale, the chief executive officer directly owned 866,444 shares in the company, valued at $50,938,242.76. This represents a 23.93% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 282,745 shares of company stock valued at $16,651,472. 0.19% of the stock is owned by corporate insiders.

Baker Hughes Stock Performance

NASDAQ BKR opened at $62.59 on Friday. 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 business’s 50-day moving average price is $63.91 and its 200 day moving average price is $57.34. The firm has a market cap of $62.09 billion, a P/E ratio of 20.00, a P/E/G ratio of 2.23 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $6.71 billion. During the same quarter last year, the company posted $0.51 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. On average, equities research analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s payout ratio is currently 29.39%.

Analysts Set New Price Targets

BKR has been the topic of several research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Baker Hughes in a report on Sunday, April 26th. Johnson Rice initiated coverage on Baker Hughes in a report on Wednesday, February 25th. They set a “buy” rating and a $68.00 price target on the stock. Barclays reissued an “equal weight” rating and set a $74.00 price target (up from $62.00) on shares of Baker Hughes in a report on Thursday, May 7th. Wall Street Zen lowered Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, UBS Group raised their price target on Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $69.14.

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.