AustralianSuper Pty Ltd Sells 800,895 Shares of Baker Hughes Company $BKR

AustralianSuper Pty Ltd lowered its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 62.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 490,043 shares of the company’s stock after selling 800,895 shares during the period. AustralianSuper Pty Ltd’s holdings in Baker Hughes were worth $23,875,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Woodline Partners LP boosted its stake in Baker Hughes by 40.8% in the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock worth $3,676,000 after purchasing an additional 24,225 shares during the period. Focus Partners Wealth lifted its holdings in shares of Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after buying an additional 986 shares in the last quarter. Assetmark Inc. grew its stake in Baker Hughes by 16.4% during the second quarter. Assetmark Inc. now owns 31,275 shares of the company’s stock valued at $1,199,000 after acquiring an additional 4,395 shares in the last quarter. State of Michigan Retirement System increased its holdings in Baker Hughes by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 269,412 shares of the company’s stock worth $10,329,000 after acquiring an additional 800 shares during the period. Finally, Sigma Planning Corp purchased a new stake in Baker Hughes in the 2nd quarter worth approximately $359,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Baker Hughes news, Director William G. Beattie sold 18,023 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maria Georgia Magno sold 19,150 shares of Baker Hughes stock in a transaction that occurred on Monday, February 9th. The stock was 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 owned 14,588 shares in the company, valued at approximately $862,296.68. This represents a 56.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 40,001 shares of company stock valued at $2,322,692 in the last quarter. Insiders own 0.27% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $62.54 on Wednesday. The company’s fifty day moving average is $55.24 and its 200 day moving average is $50.00. 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 Company has a 52 week low of $33.60 and a 52 week high of $67.00. The stock has a market cap of $61.80 billion, a PE ratio of 24.05, a PEG ratio of 1.76 and a beta of 0.83.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Monday, January 26th. The company reported $0.78 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 for the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 annualized dividend and a yield of 1.5%. Baker Hughes’s dividend payout ratio is presently 35.38%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BKR shares. JPMorgan Chase & Co. upped their price target on shares of Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Jefferies Financial Group lifted their price target on Baker Hughes from $59.00 to $67.00 and gave the company a “buy” rating in a research report on Saturday, January 31st. Piper Sandler upped their price objective on shares of Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Johnson Rice initiated coverage on shares of Baker Hughes in a research report on Wednesday, February 25th. They set a “buy” rating and a $68.00 target price for the company. Finally, Wall Street Zen upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Twenty investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.61.

About Baker Hughes

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.