Trustmark Bank Trust Department Lowers Holdings in Baker Hughes Company $BKR

Trustmark Bank Trust Department lessened its holdings in Baker Hughes Company (NASDAQ:BKR) by 19.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,329 shares of the company’s stock after selling 12,063 shares during the period. Trustmark Bank Trust Department’s holdings in Baker Hughes were worth $1,891,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Baker Hughes by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 123,291,916 shares of the company’s stock valued at $4,727,012,000 after acquiring an additional 1,173,700 shares during the period. Geode Capital Management LLC grew its position in Baker Hughes by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock valued at $987,961,000 after acquiring an additional 397,984 shares in the last quarter. Norges Bank acquired a new position in Baker Hughes in the 2nd quarter valued at about $862,722,000. Artisan Partners Limited Partnership increased its stake in Baker Hughes by 1.0% during the second quarter. Artisan Partners Limited Partnership now owns 16,677,718 shares of the company’s stock worth $639,424,000 after purchasing an additional 167,095 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Baker Hughes by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company’s stock valued at $515,367,000 after purchasing an additional 175,495 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Baker Hughes stock opened at $50.17 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The firm’s fifty day moving average price is $47.97 and its 200 day moving average price is $43.70. The company has a market capitalization of $49.51 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The business had revenue of $5.09 billion for the quarter. On average, research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.8%. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BKR. Bank of America increased their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Piper Sandler increased their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. HSBC raised their price objective on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 27th. JPMorgan Chase & Co. upped their price target on shares of Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, September 30th. Finally, Cowen reiterated a “buy” rating on shares of Baker Hughes in a research note on Monday, October 27th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.42.

Insiders Place Their Bets

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the sale, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at $588,600. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the transaction, the executive vice president directly owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This represents a 38.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by insiders.

About Baker Hughes

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.