Nordea Investment Management AB Acquires 311,437 Shares of Baker Hughes Company $BKR

Nordea Investment Management AB lifted its holdings in Baker Hughes Company (NASDAQ:BKR) by 16.2% during the second quarter, HoldingsChannel reports. The firm owned 2,228,911 shares of the company’s stock after purchasing an additional 311,437 shares during the period. Nordea Investment Management AB’s holdings in Baker Hughes were worth $85,969,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Baker Hughes by 0.8% in the first quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company’s stock worth $5,367,096,000 after purchasing an additional 924,501 shares during the period. Dimensional Fund Advisors LP increased its stake in Baker Hughes by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company’s stock valued at $515,367,000 after acquiring an additional 175,495 shares during the period. Invesco Ltd. increased its stake in Baker Hughes by 2.7% during the first quarter. Invesco Ltd. now owns 10,790,132 shares of the company’s stock valued at $474,226,000 after acquiring an additional 283,454 shares during the period. Alliancebernstein L.P. increased its stake in Baker Hughes by 3.9% during the first quarter. Alliancebernstein L.P. now owns 10,068,044 shares of the company’s stock valued at $442,491,000 after acquiring an additional 376,654 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Baker Hughes by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,262,413 shares of the company’s stock valued at $407,083,000 after acquiring an additional 707,471 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the sale, the chief executive officer directly owned 667,593 shares in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the sale, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 553,068 shares of company stock worth $24,712,651 in the last three months. Insiders own 0.27% of the company’s stock.

Baker Hughes Stock Up 1.2%

NASDAQ BKR opened at $45.18 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average is $46.08 and its two-hundred day moving average is $41.36. The company has a market capitalization of $44.54 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.95 and a beta of 0.99. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $50.92.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The company had revenue of $5.09 billion for the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. Equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. Baker Hughes’s dividend payout ratio is 30.07%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Industrial Alliance Securities set a $53.00 price target on Baker Hughes in a research note on Wednesday, July 30th. Piper Sandler boosted their price target on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their price target on Baker Hughes from $50.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, JPMorgan Chase & Co. boosted their price target on Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, September 30th. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.91.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.