Baker Hughes Company $BKR Shares Purchased by Brooklyn Investment Group

Brooklyn Investment Group boosted its position in Baker Hughes Company (NASDAQ:BKR) by 73.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,891 shares of the company’s stock after acquiring an additional 5,042 shares during the period. Brooklyn Investment Group’s holdings in Baker Hughes were worth $523,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BKR. Nuveen LLC purchased a new stake in Baker Hughes in the 1st quarter worth approximately $404,385,000. Pacer Advisors Inc. grew its stake in shares of Baker Hughes by 2,585.6% during the 1st quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company’s stock valued at $169,511,000 after buying an additional 3,713,301 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Baker Hughes during the 4th quarter valued at $128,542,000. Northern Trust Corp grew its stake in shares of Baker Hughes by 18.4% during the 4th quarter. Northern Trust Corp now owns 10,000,756 shares of the company’s stock valued at $410,231,000 after buying an additional 1,553,536 shares during the period. Finally, J. Safra Sarasin Holding AG grew its stake in shares of Baker Hughes by 1,170.8% during the 4th quarter. J. Safra Sarasin Holding AG now owns 1,290,044 shares of the company’s stock valued at $52,918,000 after buying an additional 1,188,529 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BKR shares. UBS Group reissued a “neutral” rating and set a $46.00 price objective (up from $43.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Industrial Alliance Securities set a $53.00 price objective on shares of Baker Hughes in a research note on Wednesday, July 30th. Royal Bank Of Canada lowered their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus lowered their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Finally, Piper Sandler lowered their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.47.

Baker Hughes Stock Performance

Shares of BKR stock opened at $42.87 on Tuesday. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The firm has a market capitalization of $42.26 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.95 and a beta of 0.94. The company’s fifty day moving average price is $40.99 and its two-hundred day moving average price is $40.78.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a $0.23 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.1%. Baker Hughes’s payout ratio is currently 30.07%.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares in the company, valued at $29,654,481.06. The trade was a 44.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

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.