Baker Hughes Company $BKR Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 411,367 shares of the company’s stock after selling 11,464 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Baker Hughes were worth $18,734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Activest Wealth Management boosted its holdings in Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after buying an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Baker Hughes by 104.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after acquiring an additional 337 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in shares of Baker Hughes by 45.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after acquiring an additional 252 shares during the last quarter. Wolff Wiese Magana LLC increased its position in shares of Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock worth $38,000 after purchasing an additional 300 shares in the last quarter. Finally, Spire Wealth Management increased its position in shares of Baker Hughes by 357.8% during the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after purchasing an additional 798 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $69.67 on Friday. The company’s 50-day moving average is $61.92 and its two-hundred day moving average is $54.29. Baker Hughes Company has a 1-year low of $35.10 and a 1-year high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The firm has a market capitalization of $68.85 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 2.41 and a beta of 0.90.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 EPS. Analysts forecast that Baker Hughes Company will post 2.32 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th will be given a $0.23 dividend. The ex-dividend date is Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.3%. Baker Hughes’s payout ratio is currently 29.39%.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the sale, the insider owned 15,555 shares in the company, valued at approximately $918,367.20. This trade represents a 24.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 590,251 shares of company stock worth $35,311,023 over the last ninety days. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BKR shares. HSBC raised their price objective on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a report on Monday. iA Financial set a $60.00 target price on shares of Baker Hughes in a report on Tuesday, January 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Zacks Research lowered shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Finally, TD Cowen upped their price objective on shares of Baker Hughes from $64.00 to $75.00 and gave the company a “buy” rating in a research note on Monday. Nineteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.09.

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.