Illinois Municipal Retirement Fund Acquires 127,911 Shares of Baker Hughes Company $BKR

Illinois Municipal Retirement Fund lifted its holdings in Baker Hughes Company (NASDAQ:BKR) by 369.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,556 shares of the company’s stock after acquiring an additional 127,911 shares during the period. Illinois Municipal Retirement Fund’s holdings in Baker Hughes were worth $7,920,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Brandywine Global Investment Management LLC boosted its position in shares of Baker Hughes by 8.2% during the second quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock worth $24,850,000 after acquiring an additional 49,108 shares during the last quarter. Synergy Asset Management LLC purchased a new stake in Baker Hughes in the 3rd quarter worth $1,920,000. Cibc World Market Inc. boosted its holdings in shares of Baker Hughes by 13.6% during the 3rd quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock valued at $40,429,000 after purchasing an additional 99,314 shares during the last quarter. Webster Bank N. A. purchased a new position in shares of Baker Hughes during the third quarter valued at about $3,434,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Baker Hughes by 23.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 458,415 shares of the company’s stock worth $22,334,000 after purchasing an additional 88,536 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling

In other Baker Hughes news, Director William G. Beattie sold 18,023 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Maria Georgia Magno sold 19,150 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the transaction, the insider owned 14,588 shares of the company’s stock, valued at $862,296.68. This trade represents a 56.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 40,001 shares of company stock valued at $2,322,692. Company insiders own 0.27% of the company’s stock.

Baker Hughes Stock Performance

NASDAQ BKR opened at $61.20 on Friday. The business’s 50 day moving average price is $51.17 and its 200-day moving average price is $48.29. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $62.27. The company has a market cap of $60.39 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.65 and a beta of 0.89. 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 issued its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.26% and a net margin of 9.33%.Baker Hughes’s revenue was up .3% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. Sell-side analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s payout ratio is currently 35.38%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BMO Capital Markets boosted their target price on Baker Hughes from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. UBS Group upped their price objective on Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 target price on shares of Baker Hughes in a report on Thursday, January 15th. Zephirin Group boosted their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Finally, Argus increased their price objective on shares of Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. Twenty investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $58.78.

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.