Janney Montgomery Scott LLC Has $5.62 Million Stock Holdings in Baker Hughes Company $BKR

Janney Montgomery Scott LLC boosted its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 97.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,026 shares of the company’s stock after purchasing an additional 45,385 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Baker Hughes were worth $5,618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BKR. Pinion Investment Advisors LLC bought a new position in Baker Hughes during the fourth quarter worth $778,000. Nordea Investment Management AB raised its stake in Baker Hughes by 12.7% during the 4th quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock valued at $125,813,000 after purchasing an additional 309,996 shares during the last quarter. Legal & General Group Plc boosted its holdings in Baker Hughes by 5.4% in the 3rd quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock valued at $348,234,000 after purchasing an additional 367,728 shares during the period. USA Financial Formulas bought a new stake in Baker Hughes in the 4th quarter valued at $830,000. Finally, Ninety One UK Ltd grew its position in Baker Hughes by 28.6% in the 4th quarter. Ninety One UK Ltd now owns 469,329 shares of the company’s stock worth $21,373,000 after purchasing an additional 104,428 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the transaction, the chief executive officer directly owned 703,444 shares in the company, valued at $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the transaction, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is owned by insiders.

Baker Hughes Price Performance

Baker Hughes stock opened at $52.78 on Friday. The business has a 50 day simple moving average of $62.94 and a 200 day simple moving average of $58.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The company has a market capitalization of $52.36 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Baker Hughes Company has a one year low of $38.37 and a one year high of $70.41.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results 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. 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 analysts’ expectations of $6.71 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that Baker Hughes Company will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.7%. Baker Hughes’s dividend payout ratio is presently 29.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BKR shares. JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Piper Sandler lifted their target price on Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. UBS Group boosted their price target on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Argus upped their price target on Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $70.57.

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.