Vontobel Holding Ltd. Buys 8,558 Shares of Baker Hughes Company $BKR

Vontobel Holding Ltd. raised its stake in Baker Hughes Company (NASDAQ:BKR) by 7.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 124,430 shares of the company’s stock after purchasing an additional 8,558 shares during the period. Vontobel Holding Ltd.’s holdings in Baker Hughes were worth $4,771,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Maryland State Retirement & Pension System increased its stake in Baker Hughes by 3.3% in the second quarter. Maryland State Retirement & Pension System now owns 48,202 shares of the company’s stock valued at $1,848,000 after purchasing an additional 1,544 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in Baker Hughes by 3.9% in the second quarter. KLP Kapitalforvaltning AS now owns 410,318 shares of the company’s stock valued at $15,732,000 after purchasing an additional 15,300 shares in the last quarter. SteelPeak Wealth LLC bought a new stake in Baker Hughes in the second quarter valued at $2,739,000. Drake & Associates LLC increased its stake in Baker Hughes by 78.7% in the second quarter. Drake & Associates LLC now owns 67,279 shares of the company’s stock valued at $2,579,000 after purchasing an additional 29,626 shares in the last quarter. Finally, Valley National Advisers Inc. increased its stake in Baker Hughes by 2.1% in the second quarter. Valley National Advisers Inc. now owns 28,267 shares of the company’s stock valued at $1,083,000 after purchasing an additional 593 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Down 6.0%

Baker Hughes stock opened at $45.04 on Friday. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. The stock has a market cap of $44.40 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 2.18 and a beta of 0.99. The firm’s 50-day simple moving average is $45.93 and its 200 day simple moving average is $41.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The business had revenue of $5.09 billion for the quarter. Research analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.0%. Baker Hughes’s payout ratio is 30.07%.

Analysts Set New Price Targets

BKR has been the subject of several research analyst reports. Susquehanna lifted their price target on shares of Baker Hughes from $52.00 to $56.00 and gave the company a “positive” rating in a research note on Thursday, October 2nd. Evercore ISI lifted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Royal Bank Of Canada lifted their price objective on shares of Baker Hughes from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets reiterated an “outperform” rating and set a $53.00 price objective (up from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a report on Wednesday. Twenty-two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.57.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the transaction, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares in the company, valued at approximately $588,600. The trade was a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 553,068 shares of company stock worth $24,712,651. 0.27% of the stock is owned by 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.