J. Safra Sarasin Holding AG Sells 36,574 Shares of Baker Hughes Company $BKR

J. Safra Sarasin Holding AG cut its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,639,529 shares of the company’s stock after selling 36,574 shares during the quarter. Baker Hughes makes up approximately 1.2% of J. Safra Sarasin Holding AG’s portfolio, making the stock its 18th biggest position. J. Safra Sarasin Holding AG owned 0.17% of Baker Hughes worth $74,664,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Activest Wealth Management raised its position in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after acquiring an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake 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 worth $32,000 after acquiring an additional 337 shares during the period. JFS Wealth Advisors LLC boosted its holdings in Baker Hughes by 45.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after acquiring an additional 252 shares during the last quarter. Wolff Wiese Magana LLC boosted its holdings in Baker Hughes by 55.6% in the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after acquiring an additional 300 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Baker Hughes during the 2nd quarter valued at approximately $36,000. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the subject of several analyst reports. TD Cowen raised their price target on shares of Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 29th. BMO Capital Markets lifted their target price on shares of Baker Hughes from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Stifel Nicolaus boosted their target price on shares of Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Finally, Piper Sandler upped their price target on shares of Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.61.

Insider Activity at Baker Hughes

In other news, insider Maria Georgia Magno sold 5,063 shares of the 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 transaction, the insider owned 15,555 shares of the company’s stock, valued at $918,367.20. This represents a 24.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer 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. In the last ninety days, insiders 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 Price Performance

Shares of BKR opened at $60.68 on Tuesday. The firm has a market cap of $59.97 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 1.71 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 business’s 50 day moving average price is $59.62 and its two-hundred day moving average price is $51.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.67 by $0.11. The company 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 company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS. On average, equities analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is presently 35.38%.

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.