First Trust Advisors LP Purchases 374,974 Shares of Baker Hughes Company $BKR

First Trust Advisors LP boosted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,663,737 shares of the company’s stock after acquiring an additional 374,974 shares during the period. First Trust Advisors LP owned 0.97% of Baker Hughes worth $589,971,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ABN Amro Investment Solutions lifted its stake in Baker Hughes by 16.5% in the 1st quarter. ABN Amro Investment Solutions now owns 196,845 shares of the company’s stock worth $12,017,000 after purchasing an additional 27,862 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Baker Hughes by 7.8% during the first quarter. PNC Financial Services Group Inc. now owns 169,340 shares of the company’s stock worth $10,338,000 after buying an additional 12,181 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new position in Baker Hughes in the 1st quarter worth about $109,000. Baader Bank Aktiengesellschaft increased its stake in Baker Hughes by 35.3% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 18,285 shares of the company’s stock worth $1,016,000 after acquiring an additional 4,767 shares during the last quarter. Finally, Wilkerson Advisory Group LLC raised its holdings in shares of Baker Hughes by 1,661.5% in the 1st quarter. Wilkerson Advisory Group LLC now owns 4,580 shares of the company’s stock valued at $280,000 after acquiring an additional 4,320 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. HSBC lifted their price target on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Weiss Ratings downgraded shares of Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Barclays dropped their target price on shares of Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Capital One Financial lifted their price objective on shares of Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Insider Buying and Selling at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the sale, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is owned by insiders.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $56.38 on Wednesday. The company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 2.29 and a beta of 0.96. The business has a 50 day moving average of $60.48 and a 200 day moving average of $59.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. Baker Hughes Company has a 1-year low of $39.62 and a 1-year high of $70.41.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. On average, sell-side analysts predict that Baker Hughes Company will post 2.27 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. Baker Hughes’s dividend payout ratio is 29.39%.

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.