Intech Investment Management LLC Has $2.27 Million Position in Baker Hughes Company $BKR

Intech Investment Management LLC lessened its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 54.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,667 shares of the company’s stock after selling 55,259 shares during the period. Intech Investment Management LLC’s holdings in Baker Hughes were worth $2,274,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of BKR. Norges Bank acquired a new position in shares of Baker Hughes in the second quarter valued at approximately $862,722,000. First Trust Advisors LP lifted its position in Baker Hughes by 76.0% in the 2nd quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock valued at $284,446,000 after acquiring an additional 3,203,942 shares in the last quarter. Sei Investments Co. boosted its stake in Baker Hughes by 247.5% in the 2nd quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock worth $120,177,000 after purchasing an additional 2,232,394 shares during the period. American Century Companies Inc. increased its holdings in Baker Hughes by 38.0% during the 2nd quarter. American Century Companies Inc. now owns 7,602,803 shares of the company’s stock worth $291,492,000 after purchasing an additional 2,094,079 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Baker Hughes by 18.9% in the 2nd quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock valued at $492,076,000 after purchasing an additional 2,044,402 shares during the period. 92.06% of the stock is owned by institutional investors.

Insider Activity at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 843 shares of the 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 transaction, the chief accounting officer directly owned 14,019 shares of the company’s stock, valued at $789,830.46. This represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Maria Georgia Magno sold 19,150 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the sale, the insider owned 14,588 shares of the company’s stock, valued at approximately $862,296.68. This represents a 56.76% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 40,001 shares of company stock worth $2,322,692. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BKR. Stifel Nicolaus upped their price objective on Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. iA Financial set a $60.00 target price on shares of Baker Hughes in a report on Tuesday, January 27th. 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 research note on Tuesday, January 27th. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research note on Monday, December 29th. Finally, Capital One Financial raised their price objective on Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.61.

Baker Hughes Stock Performance

Shares of BKR opened at $62.54 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. The firm has a 50-day moving average of $55.24 and a 200-day moving average of $50.00. The company has a market cap of $61.80 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 1.76 and a beta of 0.83. Baker Hughes Company has a one year low of $33.60 and a one year high of $67.00.

Baker Hughes (NASDAQ:BKR) last issued its earnings results 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. The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. Baker Hughes’s revenue was up .3% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. As a group, equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

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

Baker Hughes 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.