Swiss Life Asset Management Ltd Reduces Stock Holdings in Baker Hughes Company $BKR

Swiss Life Asset Management Ltd lowered its position in Baker Hughes Company (NASDAQ:BKR) by 3.4% in the fourth quarter, HoldingsChannel reports. The firm owned 298,002 shares of the company’s stock after selling 10,608 shares during the period. Swiss Life Asset Management Ltd’s holdings in Baker Hughes were worth $13,571,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Activest Wealth Management grew its holdings in shares of Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after purchasing an additional 497 shares during the period. JFS Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 252 shares during the period. Wolff Wiese Magana LLC grew its holdings in shares of 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 purchasing an additional 300 shares during the period. Spire Wealth Management boosted its stake in Baker Hughes by 357.8% during the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after buying an additional 798 shares during the period. Finally, N.E.W. Advisory Services LLC increased its position in shares of Baker Hughes by 60.6% during the third quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company’s stock valued at $54,000 after acquiring an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the topic of several recent analyst reports. TD Cowen upped their price objective on shares of Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Royal Bank Of Canada upped their price objective on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Capital One Financial upped their price objective on shares of Baker Hughes from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Jefferies Financial Group restated a “buy” rating and issued a $80.00 price objective on shares of Baker Hughes in a report on Sunday, April 26th. Finally, Zacks Research lowered shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.18.

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the transaction, the insider directly owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. The trade was a 24.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 550,250 shares of company stock valued at $32,988,331. Insiders own 0.19% of the company’s stock.

Baker Hughes Trading Up 1.1%

NASDAQ BKR opened at $64.60 on Tuesday. The firm has a 50 day simple moving average of $62.04 and a 200-day simple moving average of $55.12. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. Baker Hughes Company has a one year low of $35.83 and a one year high of $70.41. The firm has a market cap of $64.09 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.32 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Baker Hughes Company will post 2.32 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

Baker Hughes Company 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.