Johnson Investment Counsel Inc. Has $41.39 Million Stake in Baker Hughes Company $BKR

Johnson Investment Counsel Inc. boosted its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 10,225.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 849,566 shares of the company’s stock after acquiring an additional 841,338 shares during the period. Johnson Investment Counsel Inc.’s holdings in Baker Hughes were worth $41,391,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. boosted its position in shares of Baker Hughes by 30.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 39,167 shares of the company’s stock worth $1,908,000 after purchasing an additional 9,088 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in Baker Hughes by 1.3% in the third quarter. Linden Thomas Advisory Services LLC now owns 19,674 shares of the company’s stock valued at $959,000 after buying an additional 257 shares during the period. Blume Capital Management Inc. boosted its holdings in Baker Hughes by 1.1% during the third quarter. Blume Capital Management Inc. now owns 169,941 shares of the company’s stock worth $8,280,000 after buying an additional 1,845 shares during the last quarter. Candriam S.C.A. grew its position in shares of Baker Hughes by 8.9% during the 3rd quarter. Candriam S.C.A. now owns 91,872 shares of the company’s stock worth $4,476,000 after buying an additional 7,495 shares during the period. Finally, Fielder Capital Group LLC bought a new stake in shares of Baker Hughes in the 3rd quarter valued at about $206,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR opened at $59.55 on Tuesday. The company has a market capitalization of $58.76 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 1.59 and a beta of 0.89. The business’s 50-day moving average price is $50.30 and its two-hundred day moving average price is $47.91. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $59.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00.

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

Baker Hughes Announces Dividend

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

Insider Activity

In other 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 843 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total value of $47,494.62. Following the completion of the sale, the chief accounting officer directly owned 14,019 shares of the company’s stock, valued at approximately $789,830.46. The trade was a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,851 shares of company stock worth $1,190,736 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on BKR shares. iA Financial set a $60.00 price objective on shares of Baker Hughes in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a report on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 price target on shares of Baker Hughes in a report on Thursday, January 15th. Barclays upped their price objective on shares of Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Finally, Capital One Financial lifted their target price on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Twenty investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $58.30.

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.