Swiss National Bank Raises Position in Baker Hughes Company $BKR

Swiss National Bank boosted its position in Baker Hughes Company (NASDAQ:BKR) by 7.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,997,920 shares of the company’s stock after purchasing an additional 207,000 shares during the period. Swiss National Bank’s holdings in Baker Hughes were worth $114,940,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Baker Hughes by 1.0% in the second quarter. Vanguard Group Inc. now owns 123,291,916 shares of the company’s stock valued at $4,727,012,000 after buying an additional 1,173,700 shares during the period. Geode Capital Management LLC increased its holdings in Baker Hughes by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock worth $987,961,000 after acquiring an additional 397,984 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Baker Hughes by 1.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 16,677,718 shares of the company’s stock valued at $639,424,000 after acquiring an additional 167,095 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Baker Hughes by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company’s stock valued at $515,367,000 after purchasing an additional 175,495 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Baker Hughes by 2.7% during the first quarter. Invesco Ltd. now owns 10,790,132 shares of the company’s stock worth $474,226,000 after purchasing an additional 283,454 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 1.7%

Shares of BKR stock opened at $48.88 on Friday. The company has a market capitalization of $48.23 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.92. The business’s fifty day moving average is $47.71 and its 200 day moving average is $43.26. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The business had revenue of $5.09 billion for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. On average, equities research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 annualized dividend and a yield of 1.9%. Baker Hughes’s payout ratio is presently 31.72%.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of recent research reports. Piper Sandler upped their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Evercore ISI set a $54.00 target price on shares of Baker Hughes in a report on Monday, October 27th. Cowen reaffirmed a “buy” rating on shares of Baker Hughes in a report on Monday, October 27th. Bank of America lifted their price target on Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Finally, TD Cowen raised their target price on Baker Hughes from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Twenty-three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.42.

Insider Buying and Selling

In other news, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer owned 11,772 shares of the company’s stock, valued at $588,600. This represents a 7.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 $2,026,000. This represents a 38.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is owned by insiders.

Baker Hughes Company Profile

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.