Aviva PLC Increases Position in Baker Hughes Company $BKR

Aviva PLC grew its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 7.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 747,981 shares of the company’s stock after buying an additional 52,465 shares during the quarter. Aviva PLC owned 0.08% of Baker Hughes worth $28,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in shares of Baker Hughes by 2.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company’s stock valued at $27,314,000 after acquiring an additional 17,035 shares during the period. Stack Financial Management Inc bought a new stake in Baker Hughes during the first quarter valued at about $12,890,000. Kingsman Wealth Management Inc. purchased a new position in Baker Hughes in the first quarter valued at about $442,000. Empower Advisory Group LLC grew its stake in Baker Hughes by 0.5% in the first quarter. Empower Advisory Group LLC now owns 2,120,493 shares of the company’s stock valued at $93,196,000 after purchasing an additional 9,524 shares during the last quarter. Finally, HB Wealth Management LLC lifted its position in shares of Baker Hughes by 51.3% during the first quarter. HB Wealth Management LLC now owns 40,808 shares of the company’s stock valued at $1,794,000 after buying an additional 13,839 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BKR shares. Capital One Financial lifted their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Citigroup cut their price target on shares of Baker Hughes from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Piper Sandler increased their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Stifel Nicolaus boosted their target price on Baker Hughes from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Finally, UBS Group increased their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.29.

Insider Buying and Selling

In other Baker Hughes news, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive vice president directly owned 40,520 shares in the company, valued at approximately $2,026,000. The trade was a 38.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction 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. The trade was a 7.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.27% of the company’s stock.

Baker Hughes Price Performance

NASDAQ BKR opened at $47.87 on Monday. The company has a market cap of $47.24 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.06 and a beta of 1.03. 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 stock’s fifty day moving average price is $47.23 and its 200 day moving average price is $42.47. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $50.92.

Baker Hughes (NASDAQ:BKR) last posted its quarterly 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 business had revenue of $5.09 billion for the quarter. As a group, equities research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) 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.