APG Asset Management N.V. Decreases Stock Holdings in Baker Hughes Company $BKR

APG Asset Management N.V. trimmed its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 201,382 shares of the company’s stock after selling 8,300 shares during the period. APG Asset Management N.V.’s holdings in Baker Hughes were worth $9,811,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Baker Hughes in the 2nd quarter worth approximately $862,722,000. First Trust Advisors LP raised its holdings in Baker Hughes by 76.0% in the 2nd quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock worth $284,446,000 after purchasing an additional 3,203,942 shares during the period. Sei Investments Co. grew its stake in shares of Baker Hughes by 247.5% during the 2nd quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock valued at $120,177,000 after acquiring an additional 2,232,394 shares during the period. American Century Companies Inc. increased its stake in shares of Baker Hughes by 38.0% in the second quarter. American Century Companies Inc. now owns 7,602,803 shares of the company’s stock worth $291,492,000 after purchasing an additional 2,094,079 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Baker Hughes by 18.9% in the 2nd quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock worth $492,076,000 after buying an additional 2,044,402 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on BKR shares. Piper Sandler upped their price objective on Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. TD Cowen upped their target price on shares of Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Capital One Financial increased their target price on Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Johnson Rice initiated coverage on Baker Hughes in a research note on Wednesday, February 25th. They set a “buy” rating and a $68.00 price objective for the company. Finally, Barclays increased their price target on shares of Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $59.61.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 843 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total value of $47,494.62. Following the sale, the chief accounting officer directly owned 14,019 shares of the company’s stock, valued at $789,830.46. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William G. Beattie sold 18,023 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total transaction of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,001 shares of company stock valued at $2,322,692 in the last ninety days. Insiders own 0.27% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR stock opened at $62.54 on Wednesday. The business has a fifty day moving average of $55.24 and a 200 day moving average of $50.00. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $67.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. The firm has a market capitalization of $61.80 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 1.76 and a beta of 0.83.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The company’s revenue was up .3% on a year-over-year basis. As a group, research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s payout ratio is presently 35.38%.

Baker Hughes 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.