New York State Teachers Retirement System trimmed its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 818,424 shares of the company's stock after selling 14,057 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Baker Hughes worth $35,970,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of BKR. SBI Securities Co. Ltd. acquired a new stake in Baker Hughes in the fourth quarter worth about $30,000. Larson Financial Group LLC boosted its stake in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after purchasing an additional 216 shares during the last quarter. Golden State Wealth Management LLC grew 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 during the period. Grove Bank & Trust raised its stake in shares of Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after buying an additional 320 shares during the last quarter. Finally, Spire Wealth Management lifted its holdings in Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after buying an additional 465 shares during the period. 92.06% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
BKR has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. TD Securities reduced their price target on 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 dropped their price objective on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. TD Cowen 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. Finally, Morgan Stanley decreased their target price on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Two investment 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 target price of $49.11.
Check Out Our Latest Analysis on Baker Hughes
Baker Hughes Stock Up 0.9%
BKR stock traded up $0.35 during trading hours on Tuesday, reaching $38.69. 7,638,439 shares of the stock were exchanged, compared to its average volume of 7,130,204. The firm's 50-day moving average is $37.49 and its 200-day moving average is $41.06. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. The company has a market cap of $38.33 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 4.05 and a beta of 0.91. 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 posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. On average, equities research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.
Baker Hughes Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders 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 2.38%. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.
About Baker Hughes
(
Free Report)
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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