Illinois Municipal Retirement Fund Boosts Holdings in Baker Hughes Company $BKR

Illinois Municipal Retirement Fund increased its position in Baker Hughes Company (NASDAQ:BKR) by 369.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,556 shares of the company’s stock after purchasing an additional 127,911 shares during the period. Illinois Municipal Retirement Fund’s holdings in Baker Hughes were worth $7,920,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Activest Wealth Management lifted its stake in shares of Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after buying an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after acquiring an additional 337 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Baker Hughes during the 2nd quarter valued at $36,000. Harbour Investments Inc. increased its holdings in shares of Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after purchasing an additional 326 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Baker Hughes in the second quarter worth $36,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BKR. Evercore ISI reaffirmed an “outperform” rating and set a $68.00 price objective on shares of Baker Hughes in a research report on Wednesday. Piper Sandler lifted their price target on shares of Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Stifel Nicolaus increased their price objective on shares of Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Citigroup raised their target price on shares of Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Finally, Evercore set a $54.00 target price on shares of Baker Hughes in a research note on Monday, October 27th. Twenty research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.78.

Baker Hughes Stock Down 0.3%

Shares of BKR stock opened at $61.20 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $62.27. The stock has a market cap of $60.39 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.65 and a beta of 0.89. The company has a 50 day simple moving average of $51.17 and a two-hundred day simple moving average of $48.29.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts expect 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, February 27th. Stockholders of record on Tuesday, February 17th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Insider Activity

In related news, insider Maria Georgia Magno sold 19,150 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the completion of the transaction, the insider directly owned 14,588 shares in the company, valued at approximately $862,296.68. The trade was a 56.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William G. Beattie sold 18,023 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. The SEC filing for this sale provides additional information. Insiders have sold a total of 40,001 shares of company stock valued at $2,322,692 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

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.