Johnson Investment Counsel Inc. Has $41.39 Million Position in Baker Hughes Company $BKR

Johnson Investment Counsel Inc. lifted its position in Baker Hughes Company (NASDAQ:BKR) by 10,225.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 849,566 shares of the company’s stock after buying an additional 841,338 shares during the quarter. Johnson Investment Counsel Inc. owned about 0.09% of Baker Hughes worth $41,391,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Baker Hughes during the 2nd quarter worth $862,722,000. First Trust Advisors LP lifted its stake in shares of Baker Hughes by 76.0% in the second quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock valued at $284,446,000 after buying an additional 3,203,942 shares during the period. Sei Investments Co. grew its position in Baker Hughes by 247.5% during the second quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock worth $120,177,000 after buying an additional 2,232,394 shares in the last quarter. American Century Companies Inc. grew its position in Baker Hughes by 38.0% during the second quarter. American Century Companies Inc. now owns 7,602,803 shares of the company’s stock worth $291,492,000 after buying an additional 2,094,079 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Baker Hughes by 18.9% during the second quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock valued at $492,076,000 after acquiring an additional 2,044,402 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BKR shares. Bank of America lifted their price objective on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Zephirin Group boosted their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, January 26th. Evercore set a $54.00 price objective on shares of Baker Hughes in a research note on Monday, October 27th. BMO Capital Markets raised their price objective on shares of Baker Hughes from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, January 27th. Finally, UBS Group upped their target price on shares of Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Twenty research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.30.

Baker Hughes Stock Performance

NASDAQ BKR opened at $59.55 on Tuesday. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $59.84. The company has a 50 day moving average of $50.30 and a 200-day moving average of $47.91. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The firm has a market cap of $58.76 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.59 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same period in the prior year, the company earned $0.70 EPS. Baker Hughes’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 843 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total transaction of $47,494.62. Following the transaction, the chief accounting officer directly owned 14,019 shares in the company, valued at approximately $789,830.46. This represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William G. Beattie sold 18,023 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The SEC filing for this sale provides additional information. Insiders sold a total of 20,851 shares of company stock valued at $1,190,736 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.