Baker Hughes Company $BKR Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 17.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 147,381 shares of the company’s stock after acquiring an additional 22,074 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Baker Hughes were worth $6,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Baker Hughes by 0.5% during the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after purchasing an additional 598,159 shares in the last quarter. Capital World Investors boosted its holdings in shares of Baker Hughes by 7.1% in the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after buying an additional 3,153,709 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Baker Hughes by 7.1% in the 3rd quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock valued at $1,262,033,000 after buying an additional 1,728,016 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of Baker Hughes by 3.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock valued at $843,653,000 after buying an additional 638,640 shares during the last quarter. Finally, Capital International Investors acquired a new stake in Baker Hughes during the 3rd quarter worth $729,670,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BKR shares. HSBC boosted their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 27th. 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. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a report on Friday, April 24th. Citigroup raised their price target on Baker Hughes from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Barclays raised Baker Hughes from an “overweight” rating to a “positive” rating and set a $74.00 price target on the stock in a research report on Thursday. Nineteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.18.

Insider Buying and Selling

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

Baker Hughes Trading Down 4.7%

NASDAQ:BKR opened at $63.53 on Friday. Baker Hughes Company has a 12-month low of $35.83 and a 12-month high of $70.41. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The stock’s 50 day simple moving average is $62.07 and its 200-day simple moving average is $54.87. The firm has a market cap of $63.02 billion, a P/E ratio of 20.30, a PEG ratio of 2.42 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last posted 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. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the firm posted $0.51 EPS. Baker Hughes’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts anticipate that Baker Hughes Company will post 2.32 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Tuesday, May 5th will be given a $0.23 dividend. The ex-dividend date is Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

Baker Hughes 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.