J. Safra Sarasin Holding AG Has $74.66 Million Stake in Baker Hughes Company $BKR

J. Safra Sarasin Holding AG reduced its position in Baker Hughes Company (NASDAQ:BKR) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,639,529 shares of the company’s stock after selling 36,574 shares during the period. Baker Hughes makes up 1.2% of J. Safra Sarasin Holding AG’s investment portfolio, making the stock its 18th largest holding. J. Safra Sarasin Holding AG’s holdings in Baker Hughes were worth $74,664,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BKR. Vanguard Group Inc. increased its stake in Baker Hughes by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after purchasing an additional 598,159 shares in the last quarter. Capital World Investors lifted its stake in shares of 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 buying an additional 3,153,709 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Baker Hughes by 7.1% during the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock valued at $1,262,033,000 after buying an additional 1,728,016 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Baker Hughes by 3.8% during the third quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock valued at $843,653,000 after buying an additional 638,640 shares during the last quarter. Finally, Capital International Investors bought a new stake in shares of Baker Hughes during the third quarter worth about $729,670,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on shares of Baker Hughes from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Jefferies Financial Group lifted their price target on Baker Hughes from $59.00 to $67.00 and gave the company a “buy” rating in a research note on Saturday, January 31st. Piper Sandler boosted their price objective on Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research note on Monday, December 29th. Finally, TD Cowen raised their target price on Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Twenty investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $59.61.

Baker Hughes Stock Down 4.0%

BKR opened at $60.68 on Tuesday. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $67.00. The firm has a market capitalization of $59.97 billion, a P/E ratio of 23.34, a PEG ratio of 1.71 and a beta of 0.83. The company’s 50-day moving average is $59.62 and its 200 day moving average is $51.98. 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 issued 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. The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. 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 announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders 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 annualized dividend and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio is currently 35.38%.

Insiders Place Their Bets

In other news, CAO Rebecca L. Charlton sold 843 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total transaction 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 $789,830.46. This trade represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the sale, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This represents a 23.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 590,251 shares of company stock valued at $35,311,023. 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.