State Street Corp Amends Baker Hughes Co Stake Filing

TL;DR

**State Street still holds Baker Hughes stock, signaling institutional confidence.**

AI Summary

State Street Corp, a major financial institution, filed an amended SC 13G/A on January 30, 2024, indicating its ownership of Baker Hughes Co common stock as of December 31, 2023. This filing updates their previous disclosure, confirming their continued significant, but passive, investment in the oil and gas equipment company. This matters to investors because State Street's holdings represent a large institutional vote of confidence in Baker Hughes, potentially signaling stability or long-term value, though the exact percentage of ownership is not provided in this excerpt.

Why It Matters

This filing confirms a major institutional investor, State Street Corp, maintains a significant, passive stake in Baker Hughes Co, which can influence market perception and stability.

Risk Assessment

Risk Level: low — This is a routine amendment by a passive institutional investor and does not indicate any immediate risk or significant change in strategy.

Analyst Insight

Investors should note that a major institutional investor like State Street Corp maintains a position in Baker Hughes Co, suggesting long-term confidence, but this filing alone doesn't provide new actionable insights beyond confirming existing institutional ownership.

Key Players & Entities

• State Street Corp (company) — the reporting person and institutional investor
• Baker Hughes Co (company) — the subject company whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• January 30, 2024 (date) — the filing date of the SC 13G/A
• 05722G100 (other) — CUSIP number for Baker Hughes Co common stock

FAQ

From the Filing

0000093751-24-000401.txt : 20240130 0000093751-24-000401.hdr.sgml : 20240130 20240130102511 ACCESSION NUMBER: 0000093751-24-000401 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240130 DATE AS OF CHANGE: 20240130 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 FILM NUMBER: 24576274 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: STATE STREET CORP CENTRAL INDEX KEY: 0000093751 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance IRS NUMBER: 042456637 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 BUSINESS PHONE: 617 786-3000 MAIL ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET Corp DATE OF NAME CHANGE: 20090218 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET CORP DATE OF NAME CHANGE: 19970424 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET BOSTON FINANCIAL CORP DATE OF NAME CHANGE: 19780525 SC 13G/A 1 Baker_Hughes_Co.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 AMENDED FILING BAKER HUGHES CO (NAME OF ISSUER) COMMON STOCK (TITLE OF CLASS OF SECURITIES) 05722G100 (CUSIP NUMBER) 12/31/2023 (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) ( ) RULE 13D-1 (C) ( ) 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 13G Page 2 of 5 Pages 1. NAME OF REPORTING PERSON: STATE STREET CORPORATION I.R.S. IDENTIFICATION NO. OF THE ABOVE PERSON: 04-2456637 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP NOT APPLICABLE 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION BOSTON, MASSACHUSETTS 5. SOLE VOTING POWER 0 SHARES 6. SHARED VOTING POWER 45,156,376 7. SOLE DISPOSITIVE POWER 0 SHARES 8. SHARED DISPOSITIVE POWER 65,065,678 9. AGGREGATED AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 65,170,011 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES NOT APPLICABLE 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.48% 12. TYPE OF REPORTING PERSON HC CUSIP NO: 05722G100 13G Page 3 of 5 Pages ITEM 1. (A) NAME OF ISSUER BAKER HUGHES CO (B) ADDRESS OF ISSUER`S PRINCIPAL EXECUTIVE OFFICES 17021 ALDINE WESTFIELD ROAD HOUSTON TX 77073 UNITED STATES ITEM 2. (A) NAME OF PERSON FILING STATE STREET CORPORATION (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE STATE STREET FINANCIAL CENTER 1 CONGRESS STREET, SUITE