TD Asset Management Inc Has $19.16 Million Stock Holdings in Baker Hughes Company $BKR

TD Asset Management Inc lifted its holdings in Baker Hughes Company (NASDAQ:BKR) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 420,803 shares of the company’s stock after buying an additional 13,068 shares during the period. TD Asset Management Inc’s holdings in Baker Hughes were worth $19,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. boosted its position in shares of Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after buying an additional 468 shares during the period. JFS Wealth Advisors LLC boosted its position in shares of Baker Hughes by 45.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after buying an additional 252 shares during the period. Wolff Wiese Magana LLC boosted its position in Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after purchasing an additional 300 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in Baker Hughes by 23.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company’s stock valued at $69,000 after purchasing an additional 270 shares during the last quarter. Finally, Hilltop National Bank boosted its position in Baker Hughes by 26.7% during the fourth quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ BKR opened at $62.59 on Monday. Baker Hughes Company has a fifty-two week low of $37.38 and a fifty-two week high of $70.41. The stock’s 50-day moving average is $63.91 and its two-hundred day moving average is $57.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The firm has a market cap of $62.09 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 2.23 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR) last posted its 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. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company earned $0.51 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, analysts anticipate that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BKR. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. Royal Bank Of Canada lifted their price objective on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Piper Sandler lifted their price objective on Baker Hughes from $64.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Capital One Financial lifted their price objective on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Finally, Evercore reissued an “outperform” rating and set a $76.00 price objective on shares of Baker Hughes in a research report on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.14.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the transaction, the chief executive officer directly owned 866,444 shares in the company, valued at $50,938,242.76. This trade represents a 23.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the transaction, the insider owned 15,555 shares in the company, valued at approximately $918,367.20. This trade represents a 24.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 282,745 shares of company stock worth $16,651,472 over the last three months. Corporate insiders own 0.19% of the company’s stock.

Baker Hughes Company 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.