Aberdeen Group plc Sells 632,500 Shares of Baker Hughes Company $BKR

Aberdeen Group plc lowered its stake in Baker Hughes Company (NASDAQ:BKR) by 25.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,844,983 shares of the company’s stock after selling 632,500 shares during the period. Aberdeen Group plc’s holdings in Baker Hughes were worth $71,521,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. JB Capital LLC lifted its stake in Baker Hughes by 0.5% in the second quarter. JB Capital LLC now owns 82,314 shares of the company’s stock valued at $3,156,000 after buying an additional 447 shares in the last quarter. Cardano Risk Management B.V. lifted its stake in Baker Hughes by 20.4% in the second quarter. Cardano Risk Management B.V. now owns 4,949,808 shares of the company’s stock valued at $189,776,000 after buying an additional 838,333 shares in the last quarter. Callan Family Office LLC lifted its stake in Baker Hughes by 217.6% in the second quarter. Callan Family Office LLC now owns 120,200 shares of the company’s stock valued at $4,608,000 after buying an additional 82,359 shares in the last quarter. US Bancorp DE lifted its stake in Baker Hughes by 262.3% in the second quarter. US Bancorp DE now owns 287,741 shares of the company’s stock valued at $11,032,000 after buying an additional 208,323 shares in the last quarter. Finally, Baxter Bros Inc. lifted its stake in Baker Hughes by 100.0% in the second quarter. Baxter Bros Inc. now owns 43,640 shares of the company’s stock valued at $1,673,000 after buying an additional 21,815 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BKR. Jefferies Financial Group set a $58.00 price objective on shares of Baker Hughes in a research report on Wednesday, July 30th. Capital One Financial boosted 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. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of Baker Hughes from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Finally, Stifel Nicolaus cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Twenty-two investment 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 an average rating of “Moderate Buy” and an average target price of $52.57.

Insider Buying and Selling

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the company’s 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 $50,000.00. Following the completion of the transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at $588,600. This represents a 7.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lorenzo Simonelli sold 526,568 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares of the company’s stock, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 553,068 shares of company stock worth $24,712,651 in the last three months. 0.27% of the stock is owned by corporate insiders.

Baker Hughes Trading Down 6.0%

Shares of Baker Hughes stock opened at $45.04 on Friday. The company has a market capitalization of $44.40 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 2.05 and a beta of 0.99. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92. The firm’s 50-day moving average price is $45.93 and its two-hundred day moving average price is $41.33.

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

Baker Hughes Dividend Announcement

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

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.