Cookson Peirce & Co. Inc. Has $14.19 Million Stock Holdings in Baker Hughes Company $BKR

Cookson Peirce & Co. Inc. increased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 544.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 311,670 shares of the company’s stock after acquiring an additional 263,280 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Baker Hughes were worth $14,193,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Pinion Investment Advisors LLC acquired a new stake in shares of Baker Hughes during the 4th quarter worth approximately $778,000. Nordea Investment Management AB boosted its position in shares of Baker Hughes by 12.7% during the 4th quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock worth $125,813,000 after acquiring an additional 309,996 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Baker Hughes by 5.4% during the 3rd quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock worth $348,234,000 after acquiring an additional 367,728 shares in the last quarter. Cibc World Market Inc. boosted its position in shares of Baker Hughes by 13.6% during the 3rd quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after acquiring an additional 99,314 shares in the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in shares of Baker Hughes by 10,225.3% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company’s stock worth $41,391,000 after acquiring an additional 841,338 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the topic of several analyst reports. Susquehanna increased their price target on shares of Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a research report on Monday, April 27th. Stifel Nicolaus increased their price target on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Evercore reiterated an “outperform” rating and set a $76.00 price target on shares of Baker Hughes in a research report on Monday, April 27th. Argus raised their target price on shares of Baker Hughes from $67.00 to $79.00 in a research report on Friday, May 1st. Finally, Barclays restated an “equal weight” rating and issued a $74.00 target price (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.14.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the transaction, the chief executive officer owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the transaction, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. The trade was a 24.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 282,745 shares of company stock valued at $16,651,472. Insiders own 0.19% of the company’s stock.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $62.59 on Friday. Baker Hughes Company has a fifty-two week low of $37.38 and a fifty-two week high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The firm has a market capitalization 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. The company’s 50 day moving average price is $63.91 and its two-hundred day moving average price is $57.34.

Baker Hughes (NASDAQ:BKR) last issued its 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 net margin of 11.17% and a return on equity of 14.17%. 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 business posted $0.51 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

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

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.