Legal & General Group Plc Raises Holdings in Baker Hughes Company $BKR

Legal & General Group Plc boosted its position in Baker Hughes Company (NASDAQ:BKR) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,147,684 shares of the company’s stock after acquiring an additional 367,728 shares during the quarter. Legal & General Group Plc’s holdings in Baker Hughes were worth $348,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Fieldview Capital Management LLC acquired a new stake in Baker Hughes during the third quarter worth about $1,404,000. Russell Investments Group Ltd. grew its holdings in shares of Baker Hughes by 9.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,074,630 shares of the company’s stock worth $101,168,000 after purchasing an additional 183,076 shares during the period. Inceptionr LLC purchased a new stake in shares of Baker Hughes during the 3rd quarter worth about $438,000. Private Advisor Group LLC increased its position in Baker Hughes by 14.1% during the 3rd quarter. Private Advisor Group LLC now owns 27,712 shares of the company’s stock worth $1,350,000 after purchasing an additional 3,428 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Baker Hughes by 3.0% during the 3rd quarter. Parallel Advisors LLC now owns 11,545 shares of the company’s stock worth $562,000 after purchasing an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Rebecca L. Charlton sold 1,985 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $55.77, for a total value of $110,703.45. Following the transaction, the chief accounting officer owned 12,052 shares in the company, valued at approximately $672,140.04. The trade was a 14.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Maria Georgia Magno sold 19,150 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the completion of the transaction, the insider directly owned 14,588 shares of the company’s stock, valued at $862,296.68. This represents a 56.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 312,594 shares of company stock worth $18,986,302. 0.27% of the stock is owned by insiders.

Baker Hughes Price Performance

Shares of BKR stock opened at $58.97 on Thursday. The firm has a fifty day simple moving average of $56.96 and a 200-day simple moving average of $50.65. The company has a market capitalization of $58.28 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.61 and a beta of 0.83. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $67.00. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s payout ratio is presently 35.38%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays raised their price target on shares of Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Argus increased their price objective on shares of Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. Wall Street Zen raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. BMO Capital Markets lifted their target price on shares of Baker Hughes from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Finally, Jefferies Financial Group upped their price target on shares of Baker Hughes from $59.00 to $67.00 and gave the stock a “buy” rating in a research report on Saturday, January 31st. Twenty equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $59.61.

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.