Baker Hughes Company $BKR Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in Baker Hughes Company (NASDAQ:BKR) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,939,024 shares of the company’s stock after purchasing an additional 24,206 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.30% of Baker Hughes worth $112,682,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BKR. Forum Financial Management LP increased its stake in shares of Baker Hughes by 1.4% during the second quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after purchasing an additional 233 shares in the last quarter. Prosperity Consulting Group LLC increased its stake in Baker Hughes by 2.7% during the 1st quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company’s stock worth $463,000 after buying an additional 278 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Baker Hughes by 1.4% in the second quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock valued at $834,000 after acquiring an additional 292 shares in the last quarter. Greenleaf Trust boosted its stake in shares of Baker Hughes by 2.2% in the first quarter. Greenleaf Trust now owns 13,852 shares of the company’s stock worth $609,000 after acquiring an additional 293 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its stake in shares of Baker Hughes by 5.9% in the second quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock worth $205,000 after acquiring an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BKR. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, September 30th. TD Cowen increased their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Evercore ISI boosted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Melius initiated coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Melius Research started coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They issued a “buy” rating and a $60.00 target price on the stock. Twenty-one research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.91.

Baker Hughes Price Performance

Shares of BKR stock opened at $47.30 on Friday. 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 company has a market capitalization of $46.63 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99. The firm’s 50-day moving average is $46.53 and its two-hundred day moving average is $41.73. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $50.92.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.41%. The business had revenue of $5.09 billion during the quarter. Analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders 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 dividend yield of 1.9%. Baker Hughes’s dividend payout ratio is currently 31.72%.

Insider Buying and Selling at Baker Hughes

In related news, EVP Sreeganesh Ramaswamy sold 25,000 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 value of $1,250,000.00. Following the transaction, the executive vice president owned 40,520 shares of the company’s stock, valued at $2,026,000. This represents a 38.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value 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 position. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Baker Hughes Company Profile

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.