Baker Hughes Co (NYSE:NASDAQ:BKR) has reported a significant sale of shares by Maria C. Borras, the company's Executive Vice President of Oilfield Services & Equipment. According to the latest filings, Borras sold a total of 55,980 shares of Class A Common Stock at a price of $32.00 per share, resulting in a transaction value of over $1.7 million.
The transactions took place on May 24, 2024, and were executed under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a predetermined trading plan for selling stocks at a time when they are not in possession of material non-public information. This plan was adopted by Borras on February 21, 2024.
In addition to the sales, the filing also revealed that Borras acquired 18,000 shares through the exercise of stock options at a price of $22.98 per share, adding approximately $413,640 worth of stock to her holdings. This option exercise is part of a grant made on January 23, 2019, which vested in three equal annual installments starting one year from the grant date.
Following these transactions, Borras still holds a substantial number of shares in the company, with 92,035 shares of Baker Hughes Class A Common Stock remaining in her direct ownership.
Investors and market watchers often pay close attention to insider trades as they can provide valuable insights into a company's health and the confidence level of its senior executives. The transactions by Borras reflect a sizable change in her investment in the company but should be viewed within the context of her remaining holdings and the pre-set trading arrangement.
Baker Hughes is a leading oilfield services company providing solutions for oil and gas operators to make the most of their reservoirs. With its headquarters in Houston, Texas, Baker Hughes has a presence in more than 120 countries worldwide.
InvestingPro Insights
Amidst the recent insider trading activities by Maria C. Borras at Baker Hughes Co (NYSE:BKR), investors might find it beneficial to consider some key financial metrics and analyst insights. The company's market capitalization stands robust at $32.35 billion, reflecting its significant presence in the oilfield services sector. Notably, Baker Hughes trades with a forward-looking P/E ratio of 17.05, suggesting a relatively fair valuation of its earnings over the last twelve months as of Q1 2024.
Investors should also take note of the company's steady financial performance, with an impressive revenue growth of 18.93% over the last twelve months as of Q1 2024. This growth trajectory is further evidenced by the company's solid gross profit margin of 20.59% during the same period. Such data points underscore Baker Hughes's ability to maintain profitability and manage its operations effectively.
Turning to the InvestingPro Tips, it's worth mentioning that analysts have recently revised their earnings expectations upwards for the upcoming period, indicating a potential positive outlook for the company's financial future. Additionally, Baker Hughes is highlighted for its low price volatility, which might appeal to investors seeking stability in their portfolio. Moreover, the company has demonstrated a commitment to shareholder returns, maintaining dividend payments for 38 consecutive years, with a notable dividend yield of 2.59% as of mid-2024.
For those seeking more in-depth analysis, InvestingPro offers additional insights on Baker Hughes, including a total of 6 InvestingPro Tips. To access these tips and benefit from comprehensive financial analysis tools, visit https://www.investing.com/pro/BKR and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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