In a recent transaction, James E. Apostolides, Senior Vice President of Enterprise Operational Excellence at Baker Hughes Co (NYSE:BKR), sold 5,000 shares of the company's Class A Common Stock for a total value of $169,400. The transaction took place on April 5, 2024, with the shares being sold at a price of $33.88 each.
This sale was conducted under a Rule 10b5-1 trading plan, which was previously adopted by Apostolides on November 22, 2023. Such plans allow company insiders to set up a predetermined schedule for buying and selling shares to avoid accusations of trading on insider information.
Following the transaction, Apostolides still holds 14,998 shares of Baker Hughes, indicating a continued investment in the company's future. Baker Hughes, known for its oil and gas field machinery and equipment, has its shares traded under the ticker symbol BKR on the New York Stock Exchange.
Investors often monitor insider transactions as they can provide insights into executives' confidence in the company's performance and prospects. However, it's important to note that trading under a 10b5-1 plan often means that the sales are planned in advance and may not necessarily reflect immediate sentiment regarding the company's current operations or future outlook.
The details of the transaction were made public through a Form 4 filing with the Securities and Exchange Commission, which requires insiders to report their trades.
InvestingPro Insights
Amidst the recent insider trading activity, Baker Hughes Co (NYSE:BKR) showcases a mix of financial health and market performance that could be of interest to investors. With a market capitalization of $34.16 billion and a P/E ratio standing at 15.26, the company appears to be valued reasonably in the current market. The adjusted P/E ratio for the last twelve months as of Q4 2023 is slightly higher at 19.04, reflecting the company's earnings in relation to its share price over that period.
The company's revenue growth is also notable, with a 20.56% increase over the last twelve months as of Q4 2023, indicating a robust expansion in its business activities. This is further supported by a solid gross profit margin of 20.72%, which suggests that Baker Hughes is effectively managing its cost of goods sold and maintaining profitability.
From the perspective of InvestingPro Tips, it's worth noting that Baker Hughes has a history of reliability when it comes to dividend payments, having maintained them for 38 consecutive years, which could be a reassuring factor for income-focused investors. Additionally, analysts are optimistic about the company's profitability in the upcoming year. However, it's important for potential investors to consider that 8 analysts have revised their earnings expectations downwards for the upcoming period, and the stock's Relative Strength Index (RSI) suggests it is in overbought territory, which could indicate a potential pullback in the stock price.
For those interested in exploring further insights and tips on Baker Hughes, InvestingPro offers additional analysis and metrics. There are 6 more InvestingPro Tips available for BKR at InvestingPro, and readers can use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.