American Century Companies Inc. Sells 1,442,649 Shares of Baker Hughes Company $BKR

American Century Companies Inc. lessened its holdings in Baker Hughes Company (NASDAQ:BKR) by 19.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,160,154 shares of the company’s stock after selling 1,442,649 shares during the period. American Century Companies Inc. owned approximately 0.62% of Baker Hughes worth $300,123,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BKR. Erste Asset Management GmbH lifted its holdings in shares of Baker Hughes by 108.6% during the 3rd quarter. Erste Asset Management GmbH now owns 30,300 shares of the company’s stock valued at $1,532,000 after purchasing an additional 15,775 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Baker Hughes by 3.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock valued at $843,653,000 after buying an additional 638,640 shares during the last quarter. DNB Asset Management AS increased its stake in shares of Baker Hughes by 1.9% during the 3rd quarter. DNB Asset Management AS now owns 200,795 shares of the company’s stock worth $9,783,000 after purchasing an additional 3,719 shares during the last quarter. Choreo LLC increased its holdings in shares of Baker Hughes by 3.2% in the third quarter. Choreo LLC now owns 32,046 shares of the company’s stock valued at $1,561,000 after purchasing an additional 995 shares during the last quarter. Finally, Interchange Capital Partners LLC acquired a new stake in shares of Baker Hughes during the 3rd quarter worth about $214,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Baker Hughes

In other news, insider Maria Georgia Magno sold 19,150 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 14,588 shares of the company’s stock, valued at approximately $862,296.68. This trade represents a 56.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William G. Beattie sold 18,023 shares of the company’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 value of $1,032,537.67. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 40,001 shares of company stock worth $2,322,692. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BKR shares. Zephirin Group raised their target price on Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research note on Monday, December 29th. JPMorgan Chase & Co. upped their price target on shares of Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Jefferies Financial Group upped their target price on Baker Hughes from $59.00 to $67.00 and gave the company a “buy” rating in a report on Saturday, January 31st. Finally, Wall Street Zen raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Twenty investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $59.39.

Baker Hughes Price Performance

BKR opened at $65.26 on Friday. The company has a market capitalization of $64.49 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.76 and a beta of 0.89. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $65.78. 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 firm has a 50-day moving average price of $54.51 and a 200-day moving average price of $49.61.

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

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is presently 35.38%.

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.