Allianz SE Has $2.93 Million Stake in Baker Hughes Company $BKR

Allianz SE grew its holdings in Baker Hughes Company (NASDAQ:BKR) by 35.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 76,387 shares of the company’s stock after purchasing an additional 20,128 shares during the quarter. Allianz SE’s holdings in Baker Hughes were worth $2,929,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Kingsman Wealth Management Inc. acquired a new stake in shares of Baker Hughes in the first quarter worth $442,000. Empower Advisory Group LLC raised its stake in Baker Hughes by 0.5% during the 1st quarter. Empower Advisory Group LLC now owns 2,120,493 shares of the company’s stock valued at $93,196,000 after purchasing an additional 9,524 shares during the last quarter. HB Wealth Management LLC raised its stake in Baker Hughes by 51.3% during the 1st quarter. HB Wealth Management LLC now owns 40,808 shares of the company’s stock valued at $1,794,000 after purchasing an additional 13,839 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Baker Hughes by 10.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837,276 shares of the company’s stock valued at $80,748,000 after purchasing an additional 180,809 shares during the period. Finally, Invesco Ltd. grew its position in Baker Hughes by 2.7% in the 1st quarter. Invesco Ltd. now owns 10,790,132 shares of the company’s stock worth $474,226,000 after purchasing an additional 283,454 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

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

Baker Hughes Trading Down 0.0%

BKR opened at $47.51 on Friday. The firm has a 50 day simple moving average of $47.44 and a 200 day simple moving average of $42.71. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. The company has a market cap of $46.88 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

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

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Tuesday, November 4th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. Baker Hughes’s payout ratio is 31.72%.

Analyst Upgrades and Downgrades

BKR has been the topic of several research reports. Bank of America boosted their price target on Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Evercore ISI set a $54.00 price target on Baker Hughes in a research report on Monday, October 27th. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 30th. Piper Sandler boosted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, Barclays lifted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.38.

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.