Intermede Investment Partners Ltd Sells 63,693 Shares of Baker Hughes Company $BKR

Intermede Investment Partners Ltd lessened its stake in Baker Hughes Company (NASDAQ:BKR) by 4.8% in the fourth quarter, HoldingsChannel reports. The fund owned 1,251,453 shares of the company’s stock after selling 63,693 shares during the period. Baker Hughes makes up about 2.3% of Intermede Investment Partners Ltd’s portfolio, making the stock its 22nd biggest position. Intermede Investment Partners Ltd’s holdings in Baker Hughes were worth $56,991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of BKR. Capital International Investors bought a new stake in shares of Baker Hughes in the 3rd quarter valued at about $729,670,000. Bessemer Group Inc. lifted its stake in shares of Baker Hughes by 12,983.5% in the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock valued at $158,994,000 after acquiring an additional 3,464,637 shares during the last quarter. Capital World Investors raised its position in Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in Baker Hughes during the 4th quarter valued at approximately $119,078,000. Finally, First Trust Advisors LP raised its position in Baker Hughes by 25.7% during the 3rd quarter. First Trust Advisors LP now owns 9,325,417 shares of the company’s stock valued at $454,334,000 after purchasing an additional 1,906,384 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

BKR stock opened at $66.06 on Monday. Baker Hughes Company has a fifty-two week low of $36.03 and a fifty-two week high of $70.41. The business’s 50 day moving average price is $62.80 and its two-hundred day moving average price is $56.23. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The company has a market capitalization of $65.54 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the business earned $0.51 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts forecast that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company 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. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes’s dividend payout ratio is 29.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Zephirin Group upped their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, January 26th. HSBC upped their price target on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Baker Hughes in a research report on Sunday, April 26th. iA Financial set a $60.00 price target on Baker Hughes in a research report on Tuesday, January 27th. Finally, Barclays reaffirmed an “equal weight” rating and set a $74.00 price target (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.41.

Insider Buying and Selling

In related news, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the sale, the insider owned 15,555 shares in the company, valued at $918,367.20. This represents a 24.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the sale, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. The trade was a 23.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 550,250 shares of company stock worth $32,988,331 in the last quarter. Company 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.