Baker Hughes Company $BKR Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC boosted its position in Baker Hughes Company (NASDAQ:BKR) by 14.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,110,415 shares of the company’s stock after purchasing an additional 135,992 shares during the period. HighTower Advisors LLC’s holdings in Baker Hughes were worth $54,099,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BKR. Brandywine Global Investment Management LLC boosted its stake in shares of Baker Hughes by 8.2% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock worth $24,850,000 after acquiring an additional 49,108 shares in the last quarter. Synergy Asset Management LLC acquired a new position in Baker Hughes during the third quarter worth $1,920,000. Cibc World Market Inc. boosted its position in Baker Hughes by 13.6% during the third quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after purchasing an additional 99,314 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Baker Hughes by 23.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 458,415 shares of the company’s stock valued at $22,334,000 after purchasing an additional 88,536 shares during the last quarter. Finally, Webster Bank N. A. purchased a new position in shares of Baker Hughes in the third quarter valued at $3,434,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity

In related news, insider Maria Georgia Magno sold 19,150 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the completion of the sale, the insider directly owned 14,588 shares in the company, valued at approximately $862,296.68. The trade was a 56.76% 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 the SEC website. Also, CAO Rebecca L. Charlton sold 1,985 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $55.77, for a total transaction of $110,703.45. Following the sale, the chief accounting officer directly owned 12,052 shares of the company’s stock, valued at $672,140.04. This represents a 14.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,001 shares of company stock valued at $2,322,692 in the last 90 days. 0.27% of the stock is currently owned by insiders.

Baker Hughes Stock Performance

Shares of BKR opened at $61.20 on Tuesday. The company has a market capitalization of $60.48 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $62.27. The company’s 50 day simple moving average is $51.44 and its 200 day simple moving average is $48.44.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The company had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same period in the previous year, the firm posted $0.70 EPS. Baker Hughes’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is presently 35.38%.

Analyst Ratings Changes

BKR has been the topic of several recent research reports. HSBC boosted their price objective on shares of Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Capital One Financial upped their price target on shares of Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Barclays raised their price objective on shares of Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Jefferies Financial Group lifted their price objective on Baker Hughes from $59.00 to $67.00 and gave the stock a “buy” rating in a research report on Saturday, January 31st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $57.00 target price on shares of Baker Hughes in a report on Thursday, January 15th. Twenty research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.78.

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.