Baker Hughes Company $BKR Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 9.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,084 shares of the company’s stock after buying an additional 1,425 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Baker Hughes were worth $617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in Baker Hughes in the 1st quarter valued at approximately $28,000. Golden State Wealth Management LLC increased its holdings in Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company’s stock valued at $30,000 after purchasing an additional 604 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Baker Hughes in the 1st quarter valued at approximately $30,000. Grove Bank & Trust increased its holdings in Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company’s stock valued at $33,000 after purchasing an additional 320 shares during the last quarter. Finally, Spire Wealth Management increased its holdings in Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company’s stock valued at $36,000 after purchasing an additional 465 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the sale, the chief executive officer directly owned 667,593 shares of the company’s stock, valued at approximately $29,654,481.06. The trade was a 44.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president directly owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 553,068 shares of company stock valued at $24,712,651. Insiders own 0.27% of the company’s stock.

Baker Hughes Price Performance

Baker Hughes stock opened at $45.04 on Monday. The stock has a market cap of $44.40 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 2.05 and a beta of 0.99. The company has a fifty day simple moving average of $45.93 and a 200-day simple moving average of $41.31. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $5.09 billion during the quarter. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. Equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes’s payout ratio is 30.07%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BKR shares. Stifel Nicolaus dropped their target price on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Zephirin Group lifted their target price on shares of Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Melius began coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 target price for the company. Seaport Res Ptn cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research report on Wednesday, October 8th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.57.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.