Baker Hughes Company $BKR Stock Holdings Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Baker Hughes Company (NASDAQ:BKR) by 4.0% during the first quarter, HoldingsChannel.com reports. The fund owned 2,578,073 shares of the company’s stock after selling 106,244 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Baker Hughes were worth $157,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Pinion Investment Advisors LLC bought a new position in shares of Baker Hughes in the fourth quarter worth $778,000. Nordea Investment Management AB raised its stake in shares of Baker Hughes by 12.7% during the fourth quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock valued at $125,813,000 after purchasing an additional 309,996 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Baker Hughes by 5.4% during the third quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock valued at $348,234,000 after purchasing an additional 367,728 shares in the last quarter. USA Financial Formulas acquired a new stake in Baker Hughes in the fourth quarter worth about $830,000. Finally, Ninety One UK Ltd grew its position in Baker Hughes by 28.6% in the 4th quarter. Ninety One UK Ltd now owns 469,329 shares of the company’s stock valued at $21,373,000 after buying an additional 104,428 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the sale, the chief executive officer owned 703,444 shares in the company, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the firm’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 sale, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 367,910 shares of company stock valued at $22,420,797 in the last quarter. Insiders own 0.19% of the company’s stock.

Key Baker Hughes News

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Baker Hughes announced substantial equipment and services awards for Cheniere’s Sabine Pass LNG expansion, including liquefaction equipment, compressors, gas turbines, and upgrade work. The deal reinforces Baker Hughes’ LNG exposure and adds visibility to future revenue. Baker Hughes Secures Substantial Equipment and Services Awards for Cheniere’s Sabine Pass LNG Facility
• Positive Sentiment: Baker Hughes also expanded its power-growth strategy with a multi-year agreement with Kodiak Gas Services to support U.S. data center demand, including a pathway to roughly 1.8 GW of power over time. Investors may view this as another sign the company is benefiting from the AI-driven electricity buildout. Kodiak Gas Services, Baker Hughes Announce Multi-Year Gas Turbine Order Agreement to Support U.S. Data Center Growth
• Positive Sentiment: Wolfe Research initiated coverage with an “outperform” rating and a $70 price target, while other firms including Susquehanna and TD Cowen also highlighted upside through target and rating updates. That steady analyst support can help reinforce bullish sentiment. Baker Hughes coverage and price target update
• Positive Sentiment: Reports that Baker Hughes is set to win conditional E.U. approval for its Chart Industries deal could remove an overhang tied to the transaction and improve the market’s confidence in the acquisition path. Baker Hughes set to win conditional E.U. approval for Chart Industries deal
• Neutral Sentiment: Several articles framed Baker Hughes as positioned to benefit from the broader energy transition and shifting power demand, but these were more thematic than company-specific catalysts. Can Baker Hughes Benefit From the Energy Shift?
• Neutral Sentiment: A separate note said Baker Hughes had a strong prior-session move and that earnings estimate revisions could limit near-term upside. This is more of a valuation/expectations check than a direct negative catalyst. Baker Hughes (BKR) Soars 5.7%: Is Further Upside Left in the Stock?
• Negative Sentiment: One headline said Baker Hughes is closing a facility and laying off employees, which could raise concerns about restructuring costs or demand conditions, though details were limited. HBJ: Baker Hughes closing facility, laying off employees

Analyst Ratings Changes

Several equities analysts have commented on BKR shares. Evercore reissued an “outperform” rating and set a $76.00 target price on shares of Baker Hughes in a research note on Monday, April 27th. Royal Bank Of Canada increased their price objective on shares of Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Capital One Financial boosted their target price on Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Finally, Argus upped their target price on Baker Hughes from $67.00 to $79.00 in a research report on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $70.14.

Baker Hughes Stock Performance

Shares of BKR opened at $57.20 on Friday. The firm’s 50 day moving average is $62.00 and its 200-day moving average is $59.14. The stock has a market capitalization of $56.75 billion, a P/E ratio of 18.27, a P/E/G ratio of 2.06 and a beta of 0.96. 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 12-month low of $38.37 and a 12-month high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the business earned $0.51 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that Baker Hughes Company will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business 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 of this dividend was Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes’s dividend payout ratio is currently 29.39%.

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.