Baker Hughes Company $BKR Holdings Boosted by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership boosted its stake in Baker Hughes Company (NASDAQ:BKR) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,316,358 shares of the company’s stock after buying an additional 638,640 shares during the period. Baker Hughes accounts for approximately 1.2% of Artisan Partners Limited Partnership’s investment portfolio, making the stock its 22nd largest holding. Artisan Partners Limited Partnership owned 1.75% of Baker Hughes worth $843,653,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Activest Wealth Management raised its stake 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 purchasing an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings 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 worth $32,000 after buying an additional 337 shares during the period. LFA Lugano Financial Advisors SA acquired a new position in Baker Hughes in the 2nd quarter worth approximately $36,000. Twin Peaks Wealth Advisors LLC acquired a new position in Baker Hughes during the second quarter valued at $36,000. Finally, Rothschild Investment LLC boosted its holdings in shares of Baker Hughes by 66.6% during the second quarter. Rothschild Investment LLC now owns 1,241 shares of the company’s stock worth $48,000 after purchasing an additional 496 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Maria Georgia Magno sold 19,150 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the completion of the transaction, the insider owned 14,588 shares of the company’s stock, valued at approximately $862,296.68. This trade represents a 56.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,985 shares of Baker Hughes stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $55.77, for a total value of $110,703.45. Following the completion of the sale, the chief accounting officer directly owned 12,052 shares in the company, valued at approximately $672,140.04. This represents a 14.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 40,001 shares of company stock worth $2,322,692. 0.27% of the stock is owned by insiders.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $64.90 on Friday. The firm’s 50 day simple moving average is $54.10 and its 200 day simple moving average is $49.46. 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 company has a market capitalization of $64.14 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 1.76 and a beta of 0.89. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $65.67.

Baker Hughes (NASDAQ:BKR) last announced its quarterly 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. The company had revenue of $7.39 billion during 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 for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. As a group, sell-side analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is presently 35.38%.

Analyst Ratings Changes

BKR has been the topic of a number of research reports. Susquehanna increased their price objective on Baker Hughes from $58.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday, January 27th. Piper Sandler upped their price objective on shares of Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. UBS Group raised their price objective on shares of Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Evercore reiterated an “outperform” rating and set a $68.00 price objective on shares of Baker Hughes in a research note on Wednesday, February 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 price objective on shares of Baker Hughes in a research report on Thursday, January 15th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.39.

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.