Baker Hughes Company $BKR Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 19.7% in the second quarter, HoldingsChannel reports. The firm owned 821,736 shares of the company’s stock after selling 201,437 shares during the quarter. Bank of Montreal Can’s holdings in Baker Hughes were worth $31,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in BKR. Envestnet Asset Management Inc. boosted its stake in Baker Hughes by 2.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company’s stock worth $27,314,000 after purchasing an additional 17,035 shares during the period. Stack Financial Management Inc acquired a new position in shares of Baker Hughes in the 1st quarter valued at about $12,890,000. Kingsman Wealth Management Inc. purchased a new stake in shares of Baker Hughes in the first quarter worth approximately $442,000. Empower Advisory Group LLC boosted its holdings in shares of Baker Hughes by 0.5% during the first quarter. Empower Advisory Group LLC now owns 2,120,493 shares of the company’s stock worth $93,196,000 after purchasing an additional 9,524 shares during the period. Finally, WealthTrust Asset Management LLC purchased a new position in Baker Hughes during the first quarter valued at approximately $857,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $47.29 on Friday. The business’s 50-day simple moving average is $47.18 and its 200-day simple moving average is $42.32. 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 Company has a 52 week low of $33.60 and a 52 week high of $50.92. The firm has a market cap of $46.66 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 2.06 and a beta of 1.03.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The firm had revenue of $5.09 billion during the quarter. As a group, equities research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. Baker Hughes’s payout ratio is presently 31.72%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research analyst reports. Seaport Res Ptn downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 29th. Piper Sandler upped their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Barclays increased their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Jefferies Financial Group set a $58.00 target price on Baker Hughes in a research note on Wednesday, July 30th. Finally, Melius Research began coverage on Baker Hughes in a research note on Wednesday, August 20th. They set a “buy” rating and a $60.00 price target for the company. Twenty-three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.29.

Insider Activity at Baker Hughes

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was 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 owned 40,520 shares in the company, valued at $2,026,000. This represents a 38.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, September 23rd. The stock was 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 directly owned 11,772 shares in the company, valued at approximately $588,600. This represents a 7.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is owned by corporate 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.