Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Holdings in Baker Hughes Company $BKR

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Baker Hughes Company (NASDAQ:BKR) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,158,778 shares of the company’s stock after buying an additional 84,142 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Baker Hughes were worth $101,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. Woodline Partners LP lifted its stake in Baker Hughes by 40.8% in the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after buying an additional 24,225 shares during the last quarter. Focus Partners Wealth lifted its stake in Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after buying an additional 986 shares during the last quarter. Jump Financial LLC purchased a new stake in Baker Hughes in the second quarter valued at approximately $2,301,000. NewEdge Advisors LLC lifted its stake in Baker Hughes by 4.0% in the second quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock valued at $1,779,000 after buying an additional 1,768 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new stake in Baker Hughes in the second quarter valued at approximately $1,014,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 4.7%

Shares of BKR stock opened at $63.53 on Friday. The business’s fifty day moving average price is $62.07 and its 200 day moving average price is $54.87. Baker Hughes Company has a 1-year low of $35.83 and a 1-year high of $70.41. The firm has a market capitalization of $63.02 billion, a PE ratio of 20.30, a P/E/G ratio of 2.42 and a beta of 0.97. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77.

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, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. Baker Hughes’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Baker Hughes Company will post 2.32 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.4%. Baker Hughes’s dividend payout ratio is 29.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. HSBC boosted their price objective on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Stifel Nicolaus boosted their price objective on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Baker Hughes in a research note on Sunday, April 26th. TD Cowen boosted their target price on Baker Hughes from $64.00 to $75.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, BMO Capital Markets boosted their target price on Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Nineteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $69.18.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the sale, the insider owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the sale, the chief executive officer directly owned 866,444 shares in the company, valued at $50,938,242.76. This trade represents a 23.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 569,400 shares of company stock worth $34,120,287 in the last three months. 0.19% of the stock is owned by corporate insiders.

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.