Aristotle Atlantic Partners LLC Has $17.27 Million Position in Baker Hughes Company $BKR

Aristotle Atlantic Partners LLC lifted its stake in Baker Hughes Company (NASDAQ:BKR) by 15.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 282,825 shares of the company’s stock after buying an additional 38,008 shares during the period. Aristotle Atlantic Partners LLC’s holdings in Baker Hughes were worth $17,266,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Cardano Risk Management B.V. increased its stake in Baker Hughes by 1,005.1% during the fourth quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after acquiring an additional 44,887,481 shares during the period. Norges Bank bought a new stake in shares of Baker Hughes in the 4th quarter worth approximately $1,022,491,000. Price T Rowe Associates Inc. MD lifted its position in shares of Baker Hughes by 58.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company’s stock worth $529,896,000 after acquiring an additional 4,278,573 shares during the period. Bessemer Group Inc. grew its holdings in shares of Baker Hughes by 12,983.5% during the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock worth $158,994,000 after purchasing an additional 3,464,637 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Baker Hughes during the 4th quarter worth approximately $144,262,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $57.25 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $56.80 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.38 and a beta of 0.96. Baker Hughes Company has a 1-year low of $41.96 and a 1-year high of $70.41. The firm’s 50-day moving average price is $60.00 and its two-hundred day moving average price is $59.89.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts predict that Baker Hughes Company will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the transaction, the chief executive officer directly owned 703,444 shares in the company, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the company’s 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 transaction, the chief accounting officer owned 15,997 shares in the company, valued at $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 367,910 shares of company stock worth $22,420,797 in the last 90 days. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BKR. Wolfe Research began coverage on Baker Hughes in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 target price for the company. Capital One Financial raised their target price on Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Piper Sandler decreased their price target on shares of Baker Hughes from $72.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings lowered shares of Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.00.

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.