Baker Hughes Company $BKR Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 5.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 247,916 shares of the company’s stock after purchasing an additional 13,309 shares during the period. Daiwa Securities Group Inc.’s holdings in Baker Hughes were worth $11,290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Baker Hughes by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after acquiring an additional 598,159 shares during the period. Capital World Investors lifted its position in shares of Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after acquiring an additional 3,153,709 shares during the period. Geode Capital Management LLC lifted its position in shares of Baker Hughes by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock valued at $1,189,194,000 after acquiring an additional 204,534 shares during the period. Capital Research Global Investors lifted its position in shares of Baker Hughes by 7.1% during the 3rd quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock valued at $1,262,033,000 after acquiring an additional 1,728,016 shares during the period. Finally, Norges Bank acquired a new stake in shares of Baker Hughes during the 4th quarter valued at approximately $1,022,491,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Capital One Financial lifted their price objective on Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. BMO Capital Markets lifted their price objective on Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Susquehanna lifted their price objective on Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a research report on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. Finally, Zacks Research downgraded Baker Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Eighteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.14.

Baker Hughes Trading Down 5.3%

Shares of Baker Hughes stock opened at $62.59 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. Baker Hughes Company has a 1 year low of $37.38 and a 1 year high of $70.41. The company has a market capitalization of $62.09 billion, a P/E ratio of 20.00, a P/E/G ratio of 2.23 and a beta of 0.93. The business has a 50 day moving average price of $63.91 and a 200 day moving average price of $57.34.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.Baker Hughes’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. Sell-side analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.5%. Baker Hughes’s payout ratio is 29.39%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the transaction, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider owned 15,555 shares of the company’s stock, valued at $918,367.20. This trade represents a 24.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 282,745 shares of company stock worth $16,651,472. Insiders own 0.19% of the company’s stock.

About Baker Hughes

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.