Russell Investments Group Ltd. Has $101.17 Million Stock Holdings in Baker Hughes Company $BKR

Russell Investments Group Ltd. grew its stake in Baker Hughes Company (NASDAQ:BKR) by 9.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,074,630 shares of the company’s stock after acquiring an additional 183,076 shares during the period. Russell Investments Group Ltd. owned 0.21% of Baker Hughes worth $101,168,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Woodline Partners LP grew its stake in Baker Hughes by 40.8% in the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after purchasing an additional 24,225 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of Baker Hughes by 5.6% in the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after buying an additional 986 shares during the last quarter. Sigma Planning Corp acquired a new stake in shares of Baker Hughes in the 2nd quarter valued at approximately $359,000. Summit Investment Advisors Inc. grew its stake in shares of Baker Hughes by 2.2% in the first quarter. Summit Investment Advisors Inc. now owns 42,013 shares of the company’s stock valued at $1,846,000 after buying an additional 888 shares in the last quarter. Finally, Prospera Financial Services Inc grew its stake in shares of Baker Hughes by 30.6% in the second quarter. Prospera Financial Services Inc now owns 13,598 shares of the company’s stock valued at $521,000 after buying an additional 3,186 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the topic of several analyst reports. Piper Sandler upped their price target on shares of Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Capital One Financial lifted their price objective on shares of Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Evercore reaffirmed an “outperform” rating and issued a $68.00 target price on shares of Baker Hughes in a report on Wednesday, February 11th. Wall Street Zen upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, TD Cowen boosted their price target on Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $59.61.

Insider Activity at Baker Hughes

In other Baker Hughes news, insider Maria Georgia Magno sold 19,150 shares of the firm’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 sale, the insider owned 14,588 shares in the company, valued at $862,296.68. This trade represents a 56.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William G. Beattie sold 18,023 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 312,594 shares of company stock worth $18,986,302 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Baker Hughes Stock Up 0.5%

BKR stock opened at $60.10 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $67.00. The company has a market cap of $59.39 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 1.62 and a beta of 0.83. The business has a 50-day simple moving average of $56.42 and a 200 day simple moving average of $50.49.

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, topping analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The company had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the prior year, the firm posted $0.70 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

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

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.