ABN Amro Investment Solutions Sells 85,136 Shares of Baker Hughes Company $BKR

ABN Amro Investment Solutions reduced its position in shares of Baker Hughes Company (NASDAQ:BKR) by 38.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 138,621 shares of the company’s stock after selling 85,136 shares during the quarter. ABN Amro Investment Solutions’ holdings in Baker Hughes were worth $6,754,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BKR. Activest Wealth Management increased its position in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after acquiring an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after purchasing an additional 337 shares during the last quarter. 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. LFA Lugano Financial Advisors SA bought a new stake in shares of Baker Hughes in the 2nd quarter worth $36,000. Finally, Twin Peaks Wealth Advisors LLC 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.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $61.20 on Friday. The company has a market capitalization of $60.39 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.65 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The stock’s 50-day simple moving average is $51.17 and its 200-day simple moving average is $48.31. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $62.27.

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

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Baker Hughes’s payout ratio is 35.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Capital One Financial increased their price objective on Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. BMO Capital Markets lifted their price target on shares of Baker Hughes from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Argus boosted their price objective on shares of Baker Hughes from $55.00 to $67.00 in a report on Tuesday, January 27th. HSBC raised their target price on shares of Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Finally, Citigroup increased their price target on Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $58.78.

Insider Buying and Selling

In related news, Director William G. Beattie sold 18,023 shares of the firm’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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,985 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $55.77, for a total transaction of $110,703.45. Following the completion of the sale, the chief accounting officer owned 12,052 shares in the company, valued at approximately $672,140.04. The trade was a 14.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 40,001 shares of company stock worth $2,322,692. 0.27% of the stock is owned by insiders.

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.