JPMorgan Amends Baker Hughes Stake, Signals Portfolio Rebalance

Ticker: BKR · Form: SC 13G/A · Filed: 2024-01-16T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, portfolio-change

TL;DR

**JPMorgan updated its Baker Hughes stake, watch for market reaction.**

AI Summary

JPMorgan Chase & Co. filed an amended Schedule 13G/A on January 16, 2024, indicating a change in their beneficial ownership of Baker Hughes Company's Class A Common Stock as of December 29, 2023. This filing updates their previous disclosure, signaling a potential adjustment in their investment strategy or a rebalancing of their portfolio holdings in the oil and gas equipment company. This matters to investors because significant institutional ownership changes can influence stock price and reflect a major player's confidence (or lack thereof) in the company's future prospects.

Why It Matters

Changes in large institutional holdings like JPMorgan's can signal shifts in market sentiment or investment strategy for Baker Hughes, potentially impacting its stock price.

Risk Assessment

Risk Level: low — This filing is a routine update of institutional ownership and doesn't inherently indicate a high-risk event for the company.

Analyst Insight

Investors should monitor JPMorgan's subsequent 13F filing for specific details on the change in their Baker Hughes holdings to understand the magnitude and potential implications for the stock. This filing alone doesn't provide enough detail to warrant immediate action, but it signals a need for further investigation.

Key Players & Entities

Forward-Looking Statements

FAQ

What type of filing is this document?

This document is an SC 13G/A, which is an amendment to a Schedule 13G filing under the Securities Exchange Act of 1934.

Who is the filer of this SC 13G/A?

The filer of this SC 13G/A is JPMorgan Chase & Co., with a Central Index Key (CIK) of 0000019617.

What is the subject company of this filing?

The subject company is Baker Hughes Company, identified by CIK 0001701605, which operates in the Oil & Gas Filed Machinery & Equipment industry.

What is the specific class of securities being reported in this filing?

The specific class of securities is Class A Common Stock, with a par value of $0.0001 per share, of Baker Hughes Company.

What was the date of the event that triggered this filing?

The date of the event which required the filing of this statement was December 29, 2023.

From the Filing

0000019617-24-000073.txt : 20240116 0000019617-24-000073.hdr.sgml : 20240116 20240116104608 ACCESSION NUMBER: 0000019617-24-000073 CONFORMED SUBMISSION TYPE: SC 13G/A CONFIRMING COPY: PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240116 DATE AS OF CHANGE: 20240116 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Baker Hughes Co CENTRAL INDEX KEY: 0001701605 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] ORGANIZATION NAME: 06 Technology IRS NUMBER: 814403168 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-90045 BUSINESS ADDRESS: STREET 1: 575 NORTH DAIRY ASHFORD ROAD, SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77079-1121 BUSINESS PHONE: 713-439-8600 MAIL ADDRESS: STREET 1: 575 NORTH DAIRY ASHFORD ROAD, SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77079-1121 FORMER COMPANY: FORMER CONFORMED NAME: Baker Hughes a GE Co DATE OF NAME CHANGE: 20170703 FORMER COMPANY: FORMER CONFORMED NAME: Bear Newco, Inc. DATE OF NAME CHANGE: 20170321 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: JPMORGAN CHASE & CO CENTRAL INDEX KEY: 0000019617 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] ORGANIZATION NAME: 02 Finance IRS NUMBER: 132624428 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 383 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2122706000 MAIL ADDRESS: STREET 1: 383 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: J P MORGAN CHASE & CO DATE OF NAME CHANGE: 20010102 FORMER COMPANY: FORMER CONFORMED NAME: CHASE MANHATTAN CORP /DE/ DATE OF NAME CHANGE: 19960402 FORMER COMPANY: FORMER CONFORMED NAME: CHEMICAL BANKING CORP DATE OF NAME CHANGE: 19920703 SC 13G/A 1 Baker_Hughes_Company.htm FILING BAKER HUGHES COMPANY Schedule 13G   UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   SCHEDULE 13G     Under the Securities Exchange Act of 1934 (Amendment No. 01 )*   Baker Hughes Company   (Name of Issuer)   Class A Common Stock, par value $0.0001 per share (Title of Class of Securities)   05722G100 (CUSIP Number)   December 29, 2023 (Date of Event Which Requires Filing of this Statement)   Check the appropriate box to designate the rule pursuant to which this Schedule is filed:        x  Rule 13d-1(b)        o  Rule 13d-1(c)        o  Rule 13d-1(d)   * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.   The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).           CUSIP No.  05722G100                           1   NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)   JPMORGAN CHASE & CO. 13-2624428       2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)   (a)   o   (b)   o       3   SEC USE ONLY               4   CITIZENSHIP OR PLACE OF ORGANIZATION       Delaware         NUMBER OF SHARES BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH:  5   SOLE VOTING POWER       47,209,363 &

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