Adams Diversified Equity Fund Inc. Sells 12,400 Shares of Baker Hughes Company (NASDAQ:BKR)

Adams Diversified Equity Fund Inc. lowered its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 324,800 shares of the company's stock after selling 12,400 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Baker Hughes were worth $14,275,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BKR. Capital Research Global Investors grew its position in shares of Baker Hughes by 0.6% during the 4th quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock valued at $1,135,744,000 after acquiring an additional 177,232 shares during the period. Geode Capital Management LLC lifted its position in Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock valued at $1,004,212,000 after purchasing an additional 465,832 shares in the last quarter. Norges Bank purchased a new position in shares of Baker Hughes during the 4th quarter valued at about $829,092,000. FMR LLC boosted its position in shares of Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after purchasing an additional 1,744,225 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Baker Hughes by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock worth $473,880,000 after purchasing an additional 874,297 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Trading Up 2.0%

Shares of NASDAQ:BKR traded up $0.74 during trading hours on Thursday, hitting $38.32. 10,366,256 shares of the company's stock traded hands, compared to its average volume of 7,122,330. The firm has a market capitalization of $37.97 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 4.04 and a beta of 0.91. The business has a fifty day moving average price of $37.50 and a 200-day moving average price of $41.14. Baker Hughes Company has a 1 year low of $32.25 and a 1 year high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. Equities analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current 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 paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BKR. Stifel Nicolaus set a $50.00 price objective on shares of Baker Hughes and gave the company a "buy" rating in a research report on Thursday, April 24th. Susquehanna cut their price target on Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Thursday, April 24th. Piper Sandler lowered their price objective on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Royal Bank Of Canada reduced their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Barclays dropped their target price on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $49.11.

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.