Boston Trust Walden Corp Reduces Stock Holdings in Baker Hughes (NASDAQ:BKR)

Posted by Defense World Staff on Mar 30th, 2023

Boston Trust Walden Corp reduced its stake in Baker Hughes (NASDAQ:BKR – Get Rating) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 574,275 shares of the company’s stock after selling 88,630 shares during the period. Boston Trust Walden Corp owned 0.06% of Baker Hughes worth $16,958,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Alpha Paradigm Partners LLC acquired a new stake in shares of Baker Hughes in the second quarter valued at approximately $29,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of Baker Hughes in the third quarter valued at approximately $47,000. Sandy Spring Bank acquired a new stake in shares of Baker Hughes in the third quarter valued at approximately $48,000. Covestor Ltd boosted its holdings in shares of Baker Hughes by 104.7% in the first quarter. Covestor Ltd now owns 1,349 shares of the company’s stock valued at $49,000 after acquiring an additional 690 shares during the period. Finally, Private Trust Co. NA acquired a new stake in shares of Baker Hughes in the second quarter valued at approximately $52,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BKR shares. Morgan Stanley increased their price objective on Baker Hughes from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, January 4th. Evercore ISI increased their price target on Baker Hughes from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, January 24th. Piper Sandler raised Baker Hughes from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $34.00 to $43.00 in a report on Wednesday, February 15th. Barclays increased their price target on Baker Hughes from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, January 25th. Finally, JPMorgan Chase & Co. raised Baker Hughes from a “neutral” rating to an “overweight” rating and set a $32.00 price target for the company in a report on Wednesday, March 15th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.11.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 9,811 shares of Baker Hughes stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $30.93, for a total transaction of $303,454.23. Following the completion of the sale, the executive vice president now owns 59,463 shares in the company, valued at approximately $1,839,190.59. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.

Baker Hughes Trading Up 2.1 %

Shares of BKR stock opened at $28.17 on Thursday. Baker Hughes has a fifty-two week low of $20.42 and a fifty-two week high of $38.65. The stock has a market cap of $28.49 billion, a P/E ratio of -46.95 and a beta of 1.46. The business has a fifty day simple moving average of $30.31 and a 200-day simple moving average of $28.31. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.41.

Baker Hughes (NASDAQ:BKR – Get Rating) last announced its quarterly earnings results on Monday, January 23rd. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Baker Hughes had a negative net margin of 2.85% and a positive return on equity of 5.98%. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $6.07 billion. During the same quarter in the prior year, the business earned $0.25 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that Baker Hughes will post 1.57 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Investors of record on Monday, February 6th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, February 3rd. Baker Hughes’s dividend payout ratio is presently -126.67%.

Baker Hughes Company Profile

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Baker Hughes Co is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations.