Atria Wealth Solutions Inc. Purchases New Shares in Baker Hughes Company (NASDAQ:BKR)

Atria Wealth Solutions Inc. purchased a new stake in Baker Hughes Company (NASDAQ:BKR) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,568 shares of the company’s stock, valued at approximately $508,000.

A number of other institutional investors have also recently added to or reduced their stakes in BKR. Pacer Advisors Inc. boosted its stake in Baker Hughes by 2,585.6% during the 1st quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company’s stock worth $169,511,000 after purchasing an additional 3,713,301 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Baker Hughes during the 4th quarter worth $128,542,000. Northern Trust Corp boosted its stake in Baker Hughes by 18.4% during the 4th quarter. Northern Trust Corp now owns 10,000,756 shares of the company’s stock worth $410,231,000 after purchasing an additional 1,553,536 shares during the last quarter. J. Safra Sarasin Holding AG raised its holdings in shares of Baker Hughes by 1,170.8% during the 4th quarter. J. Safra Sarasin Holding AG now owns 1,290,044 shares of the company’s stock worth $52,918,000 after acquiring an additional 1,188,529 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Baker Hughes by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company’s stock worth $473,880,000 after acquiring an additional 874,297 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the transaction, the chief executive officer directly owned 667,593 shares of the company’s stock, valued at approximately $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on BKR shares. Piper Sandler reduced their price target on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group reduced their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, July 2nd. Barclays lifted their price target on Baker Hughes from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. TD Cowen lifted their price target on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Evercore ISI lifted their price target on Baker Hughes from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $51.47.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $42.85 on Thursday. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The company has a market cap of $42.24 billion, a PE ratio of 14.00, a P/E/G ratio of 1.94 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The business has a 50-day simple moving average of $40.68 and a 200-day simple moving average of $40.85.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same period in the previous year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. Baker Hughes’s payout ratio is currently 30.07%.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.