Tradewinds LLC. Invests $6.49 Million in Baker Hughes Company $BKR

Tradewinds LLC. bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 133,163 shares of the company’s stock, valued at approximately $6,488,000. Baker Hughes accounts for about 1.6% of Tradewinds LLC.’s portfolio, making the stock its 19th biggest position.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Baker Hughes by 1.0% during the 2nd 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 last quarter. Geode Capital Management LLC raised its position in Baker Hughes by 1.6% during the second quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock valued at $987,961,000 after acquiring an additional 397,984 shares in the last quarter. Norges Bank acquired a new position in Baker Hughes in the second quarter valued at approximately $862,722,000. Artisan Partners Limited Partnership boosted its position 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 worth $639,424,000 after purchasing an additional 167,095 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Baker Hughes by 18.9% during the 2nd quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock worth $492,076,000 after purchasing an additional 2,044,402 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BKR shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Thursday. Piper Sandler upped 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. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 29th. Bank of America upped their price target on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. raised their price objective on Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.04.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $51.78 on Monday. The stock has a market capitalization of $51.10 billion, a P/E ratio of 17.86, a PEG ratio of 1.64 and a beta of 0.89. The business has a 50 day simple moving average of $47.99 and a two-hundred day simple moving average of $46.14. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $52.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.62 by $0.06. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is currently 31.72%.

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.