Heartland Bank & Trust Co Invests $484,000 in Baker Hughes Company $BKR

Heartland Bank & Trust Co bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 8,725 shares of the company’s stock, valued at approximately $484,000.

Several other institutional investors have also recently added to or reduced their stakes in BKR. C M Bidwell & Associates Ltd. acquired a new position in shares of Baker Hughes in the 2nd quarter worth approximately $321,000. Buckland Partners Management Co LLC bought a new stake in Baker Hughes during the 2nd quarter worth approximately $1,665,000. Plato Investment Management Ltd acquired a new stake in Baker Hughes during the 2nd quarter valued at $4,250,000. Stoneridge Investment Partners LLC bought a new position in Baker Hughes in the 2nd quarter valued at $420,000. Finally, TFR Capital LLC. bought a new position in Baker Hughes in the 2nd quarter valued at $226,000. 92.06% of the stock is owned by institutional investors.

Insider Activity at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the transaction, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the sale, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This represents a 20.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is owned by corporate insiders.

Baker Hughes Trading Down 0.7%

BKR stock opened at $62.34 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. Baker Hughes Company has a twelve month low of $43.61 and a twelve month high of $70.41. The company has a market cap of $61.88 billion, a P/E ratio of 20.11, a PEG ratio of 1.95 and a beta of 0.97. The business has a fifty day moving average of $59.07 and a 200-day moving average of $61.30.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.13. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 earnings per share. As a group, equities research analysts expect that Baker Hughes Company will post 2.51 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Baker Hughes’s payout ratio is currently 29.68%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group set a $51.00 target price on Baker Hughes in a report on Tuesday, July 28th. Capital One Financial lifted their price target on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Wall Street Zen downgraded shares of Baker Hughes from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Barclays decreased their price objective on shares of Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, July 16th. Finally, TD Cowen raised their price objective on shares of Baker Hughes from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $70.43.

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.