Bank of Montreal Can Buys 195,479 Shares of Baker Hughes Company $BKR

Bank of Montreal Can grew its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 23.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,017,215 shares of the company’s stock after purchasing an additional 195,479 shares during the period. Bank of Montreal Can owned approximately 0.10% of Baker Hughes worth $49,559,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Baker Hughes during the 2nd quarter valued at approximately $862,722,000. First Trust Advisors LP boosted its position in shares of Baker Hughes by 76.0% during the second quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock valued at $284,446,000 after purchasing an additional 3,203,942 shares in the last quarter. Sei Investments Co. grew its stake in Baker Hughes by 247.5% in the second quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock worth $120,177,000 after purchasing an additional 2,232,394 shares during the period. American Century Companies Inc. raised its holdings in 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. boosted its holdings in shares of Baker Hughes by 18.9% during the 2nd quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock valued at $492,076,000 after buying an additional 2,044,402 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Price Performance

Shares of BKR opened at $55.90 on Friday. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $67.00. The company has a market capitalization of $55.24 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83. The firm has a 50 day moving average of $57.17 and a 200 day moving average of $50.69. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. The business had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The company’s revenue was up .3% compared to the same quarter last year. During the same period last year, the business posted $0.70 EPS. As a group, equities research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s payout ratio is presently 35.38%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BKR shares. Johnson Rice initiated coverage on shares of Baker Hughes in a research note on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price target for the company. JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Citigroup upped their price target on Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Argus lifted their price objective on Baker Hughes from $55.00 to $67.00 in a research note on Tuesday, January 27th. Finally, Capital One Financial increased their target price on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.61.

Insider Activity at Baker Hughes

In other news, Director William G. Beattie sold 18,023 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Rebecca L. Charlton sold 1,985 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $55.77, for a total value of $110,703.45. Following the sale, the chief accounting officer owned 12,052 shares of the company’s stock, valued at approximately $672,140.04. This trade represents a 14.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 312,594 shares of company stock worth $18,986,302 in the last three months. 0.27% of the stock is currently owned by company insiders.

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.