Baker Hughes Company $BKR Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 411,367 shares of the company’s stock after selling 11,464 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Baker Hughes were worth $18,734,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Activest Wealth Management raised its holdings in shares of Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after buying an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after acquiring an additional 337 shares during the period. JFS Wealth Advisors LLC grew its position in Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after acquiring an additional 252 shares in the last quarter. Wolff Wiese Magana LLC increased its stake in Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock worth $38,000 after purchasing an additional 300 shares during the period. Finally, Spire Wealth Management increased its stake in Baker Hughes by 357.8% during the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after purchasing an additional 798 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BKR shares. Johnson Rice began coverage on shares of Baker Hughes in a research note on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price objective for the company. UBS Group raised their price target on shares of Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research report on Monday. TD Cowen boosted their price target on shares of Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday. Zacks Research cut Baker Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday. Nineteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.09.

Insiders Place Their Bets

In other Baker Hughes news, Director William G. Beattie sold 18,023 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Maria Georgia Magno sold 19,150 shares of the firm’s stock in a transaction that occurred on 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 directly owned 14,588 shares in the company, valued at approximately $862,296.68. The trade was a 56.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 590,251 shares of company stock valued at $35,311,023. 0.19% of the stock is owned by company insiders.

Baker Hughes Stock Up 1.2%

Shares of Baker Hughes stock opened at $69.67 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 52-week low of $35.10 and a 52-week high of $70.41. The company has a market capitalization of $68.85 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.41 and a beta of 0.90. The company has a 50 day moving average of $61.92 and a 200 day moving average of $54.29.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data 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. The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. As a group, research analysts forecast that Baker Hughes Company will post 2.32 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Tuesday, May 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.3%. Baker Hughes’s payout ratio is presently 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.