Baker Hughes Company $BKR Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its holdings in Baker Hughes Company (NASDAQ:BKR) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 198,219 shares of the company’s stock after acquiring an additional 11,396 shares during the quarter. iA Global Asset Management Inc.’s holdings in Baker Hughes were worth $9,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Activest Wealth Management grew its position in Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after buying an additional 497 shares during the period. JFS Wealth Advisors LLC grew its position in Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after buying an additional 252 shares during the period. Wolff Wiese Magana LLC grew 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 buying an additional 300 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in Baker Hughes during the third quarter valued at $65,000. Finally, Hilltop National Bank grew 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 buying an additional 300 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR opened at $64.12 on Monday. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The company has a market cap of $63.61 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 2.33 and a beta of 0.97. Baker Hughes Company has a 52-week low of $35.83 and a 52-week high of $70.41. The firm’s fifty day simple moving average is $62.16 and its two-hundred day simple moving average is $55.61.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. Equities analysts anticipate that Baker Hughes Company will post 2.32 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed 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 1.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

Wall Street Analyst Weigh In

Several analysts recently commented on BKR shares. Wall Street Zen lowered shares of Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. HSBC raised their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 27th. UBS Group raised their price target on shares of Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Zacks Research lowered shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Finally, Piper Sandler raised their price target on shares of Baker Hughes from $64.00 to $72.00 and gave the company an “overweight” 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.18.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the transaction, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction on Wednesday, March 11th. The shares were 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 approximately $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 550,250 shares of company stock worth $32,988,331. 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.