Principal Financial Group Inc. Purchases 82,706 Shares of Baker Hughes Company (NASDAQ:BKR)

Principal Financial Group Inc. increased its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,239,175 shares of the company's stock after buying an additional 82,706 shares during the period. Principal Financial Group Inc. owned about 0.13% of Baker Hughes worth $54,462,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Baker Hughes in the 4th quarter valued at about $30,000. Larson Financial Group LLC raised its position in shares of 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 in the last quarter. Golden State Wealth Management LLC raised its position 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 buying an additional 604 shares in the last quarter. Grove Bank & Trust raised its position 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 buying an additional 320 shares in the last quarter. Finally, Spire Wealth Management raised its position 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 buying an additional 465 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Down 1.4%

BKR stock traded down $0.55 during trading hours on Monday, hitting $39.09. The company's stock had a trading volume of 5,336,323 shares, compared to its average volume of 7,162,482. 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 company has a market capitalization of $38.73 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 4.27 and a beta of 0.91. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. The stock has a 50 day moving average price of $37.70 and a two-hundred day moving average price of $41.02.

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 the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. On average, equities research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors 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 2.35%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.

Analyst Ratings Changes

A number of research firms have commented on BKR. The Goldman Sachs Group dropped their price target on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. Morgan Stanley dropped their price target on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Piper Sandler dropped their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus set a $50.00 target price on shares of Baker Hughes and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Evercore ISI dropped their target price on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has a consensus rating of "Moderate Buy" and a consensus price target of $48.50.

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.