Baker Hughes Company $BKR Holdings Decreased by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 95.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 149,300 shares of the company’s stock after selling 3,165,770 shares during the period. Pacer Advisors Inc.’s holdings in Baker Hughes were worth $6,799,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Pinion Investment Advisors LLC acquired a new stake in shares of Baker Hughes during the fourth quarter worth approximately $778,000. Nordea Investment Management AB grew its position in Baker Hughes by 12.7% during the fourth quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock valued at $125,813,000 after purchasing an additional 309,996 shares in the last quarter. Legal & General Group Plc increased its stake in Baker Hughes by 5.4% in the 3rd quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock valued at $348,234,000 after buying an additional 367,728 shares during the period. Nkcfo LLC acquired a new position in Baker Hughes in the 3rd quarter valued at approximately $2,967,000. Finally, Artisan Partners Limited Partnership lifted its position in Baker Hughes by 3.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock worth $843,653,000 after buying an additional 638,640 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Shares of BKR stock opened at $58.41 on Monday. Baker Hughes Company has a 12 month low of $37.38 and a 12 month high of $70.41. The company has a market capitalization of $57.95 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.11 and a beta of 0.93. The stock has a 50 day moving average of $64.02 and a two-hundred day moving average of $58.31. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.Baker Hughes’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. As a group, equities analysts expect that Baker Hughes Company will post 2.28 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. Baker Hughes’s dividend payout ratio is currently 29.39%.

Analyst Ratings Changes

BKR has been the topic of several research analyst reports. Zacks Research upgraded shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Royal Bank Of Canada increased their price objective on Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. TD Cowen increased their price objective on Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Jefferies Financial Group reissued a “buy” rating and set a $80.00 price objective on shares of Baker Hughes in a research report on Sunday, April 26th. Finally, Stifel Nicolaus upped their target price on Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.14.

Insiders Place Their Bets

In other news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the sale, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $63.36, for a total transaction of $11,494,200.96. Following the completion of the sale, the chief executive officer directly owned 784,944 shares in the company, valued at approximately $49,734,051.84. The trade was a 18.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.19% of the company’s stock.

Baker Hughes 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.