Baker Hughes Company $BKR Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its holdings in Baker Hughes Company (NASDAQ:BKR) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 503,141 shares of the company’s stock after selling 20,204 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Baker Hughes were worth $24,513,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BKR. Activest Wealth Management raised its position in Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after acquiring an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Baker Hughes during the 2nd quarter worth $36,000. Spire Wealth Management grew its stake in shares of Baker Hughes by 357.8% during the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after purchasing an additional 798 shares during the period. Finally, N.E.W. Advisory Services LLC grew its stake in shares of Baker Hughes by 60.6% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company’s stock worth $54,000 after purchasing an additional 416 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Baker Hughes stock opened at $55.19 on Tuesday. The firm has a market capitalization of $54.54 billion, a PE ratio of 21.23, a P/E/G ratio of 1.47 and a beta of 0.83. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $67.00. The firm’s 50-day simple moving average is $57.43 and its 200 day simple moving average is $50.91. 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 (NASDAQ:BKR) last posted its earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same period last year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BKR. iA Financial set a $60.00 price objective on shares of Baker Hughes in a research note on Tuesday, January 27th. Stifel Nicolaus upped their target price on shares of Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Wall Street Zen raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 29th. Finally, Capital One Financial boosted their price target on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.61.

Insider Buying and Selling

In related news, insider Maria Georgia Magno sold 19,150 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $59.11, for a total value of $1,131,956.50. Following the sale, the insider owned 14,588 shares of the company’s stock, valued at approximately $862,296.68. This represents a 56.76% decrease in their position. 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 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 owned 866,444 shares in the company, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 590,251 shares of company stock valued at $35,311,023. 0.27% of the stock is currently owned by company insiders.

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.