Voya Investment Management LLC Has $34.79 Million Stake in Baker Hughes Company $BKR

Voya Investment Management LLC lowered its holdings in Baker Hughes Company (NASDAQ:BKR) by 28.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 714,014 shares of the company’s stock after selling 286,019 shares during the period. Voya Investment Management LLC owned about 0.07% of Baker Hughes worth $34,787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BKR. Forum Financial Management LP boosted its stake in shares of Baker Hughes by 1.4% during the 2nd quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after buying an additional 233 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Baker Hughes by 4.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock valued at $260,000 after purchasing an additional 275 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Baker Hughes by 1.4% in the second quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock valued at $834,000 after purchasing an additional 292 shares in the last quarter. Moody National Bank Trust Division increased its position in shares of Baker Hughes by 5.9% during the 2nd quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock worth $205,000 after purchasing an additional 296 shares during the last quarter. Finally, City Center Advisors LLC raised its stake in shares of Baker Hughes by 3.6% during the 2nd quarter. City Center Advisors LLC now owns 8,486 shares of the company’s stock worth $325,000 after purchasing an additional 298 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Up 0.5%

Shares of BKR opened at $44.71 on Friday. The firm has a market cap of $44.12 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.62 and a beta of 0.90. 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 $51.12. The firm’s 50-day simple moving average is $47.65 and its 200 day simple moving average is $44.79.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. The firm had revenue of $5.09 billion during the quarter. On average, analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were paid a $0.23 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 annualized dividend and a yield of 2.1%. Baker Hughes’s payout ratio is 31.72%.

Wall Street Analysts Forecast Growth

BKR has been the subject of several analyst reports. Zephirin Group raised their target price on shares of Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. UBS Group lifted their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Capital One Financial boosted their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. JPMorgan Chase & Co. raised their target price on shares of Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, September 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Baker Hughes in a research report on Monday, December 15th. Twenty-three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.92.

Insiders Place Their Bets

In other news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the sale, the executive vice president owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. The trade was a 38.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares in the company, valued at $588,600. This trade represents a 7.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.27% 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.