Swiss Life Asset Management Ltd Has $15.04 Million Holdings in Baker Hughes Company $BKR

Swiss Life Asset Management Ltd lifted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 109.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 308,610 shares of the company’s stock after acquiring an additional 161,047 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Baker Hughes were worth $15,035,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds 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. Capital International Investors acquired a new position in Baker Hughes in the 3rd quarter valued at approximately $729,670,000. First Trust Advisors LP raised its stake in shares of Baker Hughes by 76.0% during the second 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 during the last quarter. Capital World Investors lifted its holdings in shares of Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after purchasing an additional 3,153,709 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Baker Hughes by 247.5% in the second 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 last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Baker Hughes stock opened at $60.71 on Friday. The stock’s 50 day moving average price is $57.97 and its two-hundred day moving average price is $51.10. The stock has a market capitalization of $60.00 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.56 and a beta of 0.83. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $67.00.

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

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were paid a $0.23 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is currently 35.38%.

Insider Transactions at Baker Hughes

In related news, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the sale, 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. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Rebecca L. Charlton sold 843 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was 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 in the company, valued at approximately $789,830.46. This trade represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 590,251 shares of company stock valued at $35,311,023. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BKR shares. Barclays raised their target price on Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. UBS Group lifted their price objective on Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Citigroup increased their target price on shares of Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Johnson Rice initiated coverage on shares of Baker Hughes in a research report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price target on the stock. Finally, Piper Sandler upped their price objective on shares of Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Twenty investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently 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.