Legal & General Group Plc Increases Holdings in Baker Hughes Company $BKR

Legal & General Group Plc increased its position in Baker Hughes Company (NASDAQ:BKR) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,147,684 shares of the company’s stock after acquiring an additional 367,728 shares during the period. Legal & General Group Plc owned approximately 0.72% of Baker Hughes worth $348,234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AMG National Trust Bank boosted its position in Baker Hughes by 3.7% during the third quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock worth $333,000 after purchasing an additional 246 shares in the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of 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 in the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Baker Hughes by 4.4% in the third quarter. Wealthcare Advisory Partners LLC now owns 6,282 shares of the company’s stock valued at $306,000 after buying an additional 264 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Baker Hughes by 23.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company’s stock worth $69,000 after buying an additional 270 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Baker Hughes by 4.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock worth $260,000 after buying an additional 275 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Baker Hughes

In related news, insider Maria Georgia Magno sold 19,150 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were 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 directly owned 14,588 shares in the company, valued at approximately $862,296.68. The trade was a 56.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lorenzo Simonelli sold 272,593 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $61.13, for a total transaction of $16,663,610.09. Following the transaction, the chief executive officer directly owned 672,810 shares of the company’s stock, valued at $41,128,875.30. This trade represents a 28.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 312,594 shares of company stock valued at $18,986,302. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Capital One Financial increased their price objective on shares of Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Wall Street Zen upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Johnson Rice assumed coverage on shares of Baker Hughes in a report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price target on the stock. iA Financial set a $60.00 price target on shares of Baker Hughes in a research report on Tuesday, January 27th. Finally, TD Cowen raised their price objective on shares of Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.61.

Baker Hughes Price Performance

BKR stock opened at $58.97 on Thursday. The stock has a market capitalization of $58.28 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.61 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’s fifty day simple moving average is $56.96 and its 200-day simple moving average is $50.65.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $7.09 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business 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. 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 1.6%. Baker Hughes’s dividend payout ratio is currently 35.38%.

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.