Aristotle Atlantic Partners LLC Makes New Investment in Baker Hughes Company $BKR

Aristotle Atlantic Partners LLC bought a new stake in shares of Baker Hughes Company (NASDAQ:BKR) during the 3rd quarter, Holdings Channel.com reports. The fund bought 252,688 shares of the company’s stock, valued at approximately $12,311,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in shares of Baker Hughes in the 2nd quarter worth $862,722,000. Capital International Investors bought a new stake in Baker Hughes during the third quarter valued at about $729,670,000. First Trust Advisors LP boosted its position in Baker Hughes by 76.0% during the second quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock valued at $284,446,000 after purchasing an additional 3,203,942 shares in the last quarter. Capital World Investors grew its stake in Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Baker Hughes by 247.5% in the second quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock worth $120,177,000 after purchasing an additional 2,232,394 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Shares of BKR stock opened at $54.26 on Friday. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $67.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. The firm has a market capitalization of $53.62 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 1.47 and a beta of 0.83. The stock’s 50-day simple moving average is $57.31 and its 200-day simple moving average is $50.80.

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

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. Baker Hughes’s dividend payout ratio (DPR) is currently 35.38%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Jefferies Financial Group increased their price target on shares of Baker Hughes from $59.00 to $67.00 and gave the company a “buy” rating in a research report on Saturday, January 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 29th. Barclays boosted their price objective on shares of Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Argus increased their target price on shares of Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. Finally, Susquehanna raised their target price on shares of Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research note on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.61.

Insider Activity at Baker Hughes

In other news, Director William G. Beattie sold 18,023 shares of Baker Hughes stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total transaction of $1,032,537.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the sale, the chief executive officer directly owned 866,444 shares in the company, valued at $50,938,242.76. This trade represents a 23.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 590,251 shares of company stock worth $35,311,023. Corporate insiders own 0.27% of the company’s stock.

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.