Insight Wealth Strategies LLC Acquires Shares of 105,884 Baker Hughes Company $BKR

Insight Wealth Strategies LLC bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the 3rd quarter, Holdings Channel reports. The firm bought 105,884 shares of the company’s stock, valued at approximately $5,159,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Forum Financial Management LP lifted its position in Baker Hughes by 1.4% during the 2nd quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after buying an additional 233 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Baker Hughes by 4.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock worth $260,000 after acquiring an additional 275 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Baker Hughes by 1.4% during the second quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock worth $834,000 after purchasing an additional 292 shares in the last quarter. Moody National Bank Trust Division lifted its position in shares of Baker Hughes by 5.9% during the second quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock worth $205,000 after purchasing an additional 296 shares in the last quarter. Finally, City Center Advisors LLC grew its stake in shares of Baker Hughes by 3.6% during the second quarter. City Center Advisors LLC now owns 8,486 shares of the company’s stock valued at $325,000 after purchasing an additional 298 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the company’s 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 completion of the sale, the chief accounting officer owned 11,772 shares in the company, valued at $588,600. This represents a 7.83% decrease in their position. The transaction 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 the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the sale, the executive vice president directly owned 40,520 shares in the company, valued at $2,026,000. The trade was a 38.16% decrease in their position. The SEC filing for this sale provides additional information. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BKR has been the subject of several research analyst reports. Piper Sandler boosted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. TD Cowen lifted their target price on Baker Hughes from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Jefferies Financial Group boosted their target price on Baker Hughes from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. UBS Group raised their price target on Baker Hughes from $48.00 to $54.00 and gave the company a “neutral” rating in a report on Friday. Finally, Royal Bank Of Canada lifted their price objective on Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.92.

Baker Hughes Stock Up 0.1%

NASDAQ:BKR opened at $46.89 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $51.12. The stock’s fifty day simple moving average is $47.84 and its 200-day simple moving average is $44.63. The firm has a market capitalization of $46.27 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.70 and a beta of 0.90.

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

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. Baker Hughes’s payout ratio is currently 31.72%.

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.