Cresset Asset Management LLC Has $306,000 Stock Holdings in Baker Hughes (NASDAQ:BKR)

Cresset Asset Management LLC lowered its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 86.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,464 shares of the company's stock after selling 48,257 shares during the period. Cresset Asset Management LLC's holdings in Baker Hughes were worth $306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BKR. Strategic Financial Concepts LLC acquired a new stake in Baker Hughes during the fourth quarter valued at approximately $640,000. Geode Capital Management LLC raised its position in shares of Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after purchasing an additional 465,832 shares during the period. Artemis Investment Management LLP lifted its holdings in shares of Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock worth $43,233,000 after purchasing an additional 239,773 shares during the last quarter. Valicenti Advisory Services Inc. acquired a new position in Baker Hughes during the 4th quarter valued at approximately $3,308,000. Finally, Occidental Asset Management LLC boosted its position in Baker Hughes by 32.6% during the 4th quarter. Occidental Asset Management LLC now owns 84,116 shares of the company's stock valued at $3,450,000 after purchasing an additional 20,683 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of analyst reports. TD Cowen reduced their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Morgan Stanley reduced their price objective on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday. Royal Bank of Canada cut their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus set a $50.00 price objective on Baker Hughes and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, TD Securities cut their target price on 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 equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.11.

Baker Hughes Trading Down 1.5%

Shares of NASDAQ BKR traded down $0.57 during mid-day trading on Tuesday, hitting $37.34. 7,101,949 shares of the company traded hands, compared to its average volume of 7,041,426. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The stock has a market capitalization of $36.99 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 2.00 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $39.21 and a two-hundred day moving average of $42.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. On average, sell-side analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend payout ratio is 31.40%.

Baker Hughes 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.