AustralianSuper Pty Ltd Takes Position in Baker Hughes Company (NASDAQ:BKR)

AustralianSuper Pty Ltd bought a new stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 508,379 shares of the company's stock, valued at approximately $22,343,000. AustralianSuper Pty Ltd owned 0.05% of Baker Hughes as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in Baker Hughes in the 1st quarter worth about $28,000. Golden State Wealth Management LLC boosted its holdings in shares of Baker Hughes by 678.7% during the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after purchasing an additional 604 shares during the last quarter. Grove Bank & Trust boosted its holdings in shares of 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 purchasing an additional 320 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of Baker Hughes by 132.9% during the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after purchasing an additional 465 shares during the last quarter. Finally, Tsfg LLC boosted its holdings in shares of Baker Hughes by 278.8% during the 1st quarter. Tsfg LLC now owns 1,485 shares of the company's stock worth $65,000 after purchasing an additional 1,093 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Baker Hughes stock traded up $0.54 during mid-day trading on Friday, reaching $39.72. The company had a trading volume of 12,128,180 shares, compared to its average volume of 7,217,350. 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. The company has a market capitalization of $39.35 billion, a P/E ratio of 13.56, a P/E/G ratio of 4.90 and a beta of 0.91. The stock's 50-day simple moving average is $38.35 and its 200-day simple moving average is $40.93.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping 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 business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. On average, equities analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.32%. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BKR. Stifel Nicolaus reduced their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Wednesday. TD Cowen reduced their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. TD Securities reduced their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Barclays reduced their price target on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Piper Sandler cut their target price 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. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $48.44.

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.

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