Lmcg Investments LLC Boosts Stake in Baker Hughes Company $BKR

Lmcg Investments LLC increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 11.9% during the first quarter, HoldingsChannel reports. The firm owned 120,851 shares of the company’s stock after buying an additional 12,842 shares during the period. Lmcg Investments LLC’s holdings in Baker Hughes were worth $7,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of BKR. Montag A & Associates Inc. bought a new position in Baker Hughes during the 1st quarter valued at about $55,000. Resonant Capital Advisors LLC bought a new stake in shares of Baker Hughes in the first quarter worth approximately $217,000. Baxter Bros Inc. grew its stake in shares of Baker Hughes by 5.8% in the first quarter. Baxter Bros Inc. now owns 20,240 shares of the company’s stock worth $1,236,000 after acquiring an additional 1,110 shares during the period. Kathmere Capital Management LLC raised its holdings in shares of Baker Hughes by 19.0% during the first quarter. Kathmere Capital Management LLC now owns 8,362 shares of the company’s stock valued at $510,000 after purchasing an additional 1,337 shares during the last quarter. Finally, Abel Hall LLC purchased a new position in shares of Baker Hughes during the first quarter valued at approximately $207,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 5.8%

BKR opened at $57.61 on Thursday. The firm’s 50 day simple moving average is $62.21 and its two-hundred day simple moving average is $59.05. The company has a market capitalization of $57.15 billion, a PE ratio of 18.41, a PEG ratio of 1.95 and a beta of 0.96. Baker Hughes Company has a 1-year low of $38.37 and a 1-year high of $70.41. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, equities analysts forecast that Baker Hughes Company will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s payout ratio is currently 29.39%.

Analyst Upgrades and Downgrades

BKR has been the topic of several research reports. Wolfe Research assumed coverage on shares of Baker Hughes in a report on Wednesday. They issued an “outperform” rating and a $70.00 target price on the stock. Zacks Research upgraded shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. UBS Group raised their price target on Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Stifel Nicolaus lifted their price objective on Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $70.14.

Insider Activity

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

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.