Canandaigua National Bank & Trust Co. Purchases New Shares in Baker Hughes Company (NASDAQ:BKR)

Canandaigua National Bank & Trust Co. acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 26,067 shares of the company's stock, valued at approximately $1,146,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new position in Baker Hughes during the fourth quarter worth $30,000. Larson Financial Group LLC grew its stake in shares of Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after buying an additional 216 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after buying an additional 604 shares during the period. Grove Bank & Trust lifted its stake in Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after acquiring an additional 320 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in Baker Hughes by 132.9% during the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after acquiring an additional 465 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BKR shares. Royal Bank Of Canada dropped their target price on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. TD Securities dropped their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Morgan Stanley cut their target price on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. TD Cowen decreased their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Susquehanna cut their price objective on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Stock Up 0.9%

BKR traded up $0.35 on Tuesday, reaching $38.69. The company's stock had a trading volume of 7,638,439 shares, compared to its average volume of 7,130,204. The company has a market capitalization of $38.33 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 4.05 and a beta of 0.91. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $37.49 and a two-hundred day moving average of $41.06.

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, beating analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. As a group, analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's payout ratio is currently 31.40%.

About Baker Hughes

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.