Avior Wealth Management LLC Takes Position in Baker Hughes Company $BKR

Avior Wealth Management LLC bought a new stake in Baker Hughes Company (NASDAQ:BKR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,307 shares of the company’s stock, valued at approximately $424,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BKR. Synergy Asset Management LLC acquired a new stake in shares of Baker Hughes in the 3rd quarter valued at approximately $1,920,000. Cibc World Market Inc. grew its holdings in Baker Hughes by 13.6% during the third quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after acquiring an additional 99,314 shares during the period. Legal & General Group Plc raised its position in Baker Hughes by 5.4% in the third quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock worth $348,234,000 after acquiring an additional 367,728 shares in the last quarter. Vanguard Group Inc. raised its position in Baker Hughes by 0.5% in the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after acquiring an additional 598,159 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its holdings in Baker Hughes by 10,225.3% in the third quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company’s stock valued at $41,391,000 after acquiring an additional 841,338 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.6%

NASDAQ:BKR opened at $60.35 on Monday. The company has a market capitalization of $59.64 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. 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 fifty day simple moving average of $58.17 and a 200-day simple moving average of $51.29.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 EPS. On average, equities research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Analyst Upgrades and Downgrades

BKR has been the topic of several research analyst reports. Evercore restated an “outperform” rating and set a $68.00 target price on shares of Baker Hughes in a research report on Wednesday, February 11th. iA Financial set a $60.00 price objective on shares of Baker Hughes in a research note on Tuesday, January 27th. Capital One Financial boosted their price objective on shares of Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Citigroup upped their target price on shares of Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Baker Hughes in a report on Thursday, January 15th. Twenty investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.61.

Insider Buying and Selling at Baker Hughes

In related news, 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 transaction of $1,131,956.50. Following the completion of the transaction, the insider directly owned 14,588 shares in the company, valued at $862,296.68. The trade was a 56.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William G. Beattie sold 18,023 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 590,251 shares of company stock valued at $35,311,023. Company insiders own 0.27% of the company’s stock.

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.