Baker Hughes Company $BKR Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 12.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,488,408 shares of the company’s stock after selling 215,489 shares during the period. Janus Henderson Group PLC’s holdings in Baker Hughes were worth $90,867,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Pinion Investment Advisors LLC acquired a new stake in shares of Baker Hughes in the fourth quarter valued at about $778,000. OP Asset Management Ltd purchased a new position in shares of Baker Hughes in the first quarter worth about $6,049,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Baker Hughes by 17.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 484,310 shares of the company’s stock worth $22,055,000 after acquiring an additional 72,714 shares during the last quarter. Ninety One UK Ltd boosted its position in Baker Hughes by 28.6% during the fourth quarter. Ninety One UK Ltd now owns 469,329 shares of the company’s stock worth $21,373,000 after acquiring an additional 104,428 shares during the last quarter. Finally, National Pension Service grew its stake in Baker Hughes by 5.1% during the 4th quarter. National Pension Service now owns 1,317,478 shares of the company’s stock valued at $59,998,000 after acquiring an additional 64,323 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction dated 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 $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the 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 approximately $1,027,327.34. This trade represents a 24.13% 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. Over the last 90 days, insiders sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

BKR has been the topic of a number of research reports. Zacks Research raised shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Barclays dropped their price target on Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Baker Hughes in a report on Thursday, July 9th. Susquehanna lifted their price objective on Baker Hughes from $70.00 to $72.00 and gave the stock a “positive” rating in a research report on Tuesday. Finally, Royal Bank Of Canada boosted their price objective on Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.95.

Baker Hughes Stock Performance

Baker Hughes stock opened at $60.49 on Friday. The firm has a 50 day simple moving average of $59.36 and a 200-day simple moving average of $60.25. The stock has a market cap of $60.05 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.77. Baker Hughes Company has a 1-year low of $41.96 and a 1-year high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Sunday, July 26th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.51 by $0.13. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS. On average, analysts expect that Baker Hughes Company will post 2.46 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 7th. Baker Hughes’s dividend payout ratio (DPR) is presently 29.68%.

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.