Baker Hughes (NASDAQ:BKR) Stock Position Cut by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 15.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,813,586 shares of the company's stock after selling 323,869 shares during the period. Ameriprise Financial Inc. owned about 0.18% of Baker Hughes worth $74,394,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. JFS Wealth Advisors LLC raised its stake in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after acquiring an additional 386 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Baker Hughes during the 4th quarter worth approximately $30,000. Larson Financial Group LLC increased its stake in Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after buying an additional 216 shares during the period. Kestra Investment Management LLC purchased a new stake in Baker Hughes during the 4th quarter worth approximately $45,000. Finally, OFI Invest Asset Management purchased a new stake in Baker Hughes during the 4th quarter worth approximately $47,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 1.5%

Baker Hughes stock traded up $0.56 during trading on Tuesday, reaching $38.18. The company had a trading volume of 6,698,977 shares, compared to its average volume of 7,050,384. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The stock's 50 day moving average price is $39.63 and its two-hundred day moving average price is $42.07. The firm has a market capitalization of $37.83 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The business had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. As a group, equities analysts expect that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.41%. Baker Hughes's dividend payout ratio (DPR) is 31.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BKR shares. TD Cowen cut their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company upped their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Benchmark reaffirmed a "buy" rating and set a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Evercore ISI cut their target price on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, TD Securities cut their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of "Moderate Buy" and an average target price of $49.11.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.