China Universal Asset Management Co. Ltd. Increases Position in Baker Hughes Company (NASDAQ:BKR)

China Universal Asset Management Co. Ltd. boosted its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 51.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,455 shares of the company's stock after acquiring an additional 8,351 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Baker Hughes were worth $1,075,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKR. Jones Financial Companies Lllp raised its position in shares of Baker Hughes by 144.6% during the fourth quarter. Jones Financial Companies Lllp now owns 9,069 shares of the company's stock worth $372,000 after purchasing an additional 5,362 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Baker Hughes during the fourth quarter worth approximately $30,000. Assetmark Inc. raised its position in shares of Baker Hughes by 17.6% during the fourth quarter. Assetmark Inc. now owns 23,719 shares of the company's stock worth $973,000 after purchasing an additional 3,556 shares during the period. Atria Investments Inc raised its position in shares of Baker Hughes by 172.6% during the fourth quarter. Atria Investments Inc now owns 40,407 shares of the company's stock worth $1,657,000 after purchasing an additional 25,585 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Baker Hughes in the 4th quarter valued at $4,410,000. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BKR has been the subject of a number of research reports. Susquehanna cut their target price on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Thursday, April 24th. Citigroup dropped their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley dropped their target price on 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 Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Barclays decreased their price target on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.50.

Baker Hughes Price Performance

Shares of BKR stock traded up $0.36 on Thursday, reaching $39.69. 2,024,938 shares of the company were exchanged, compared to its average volume of 7,164,182. The company has a market cap of $39.32 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 4.32 and a beta of 0.91. The business has a 50-day moving average price of $37.92 and a 200 day moving average price of $40.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34. Baker Hughes Company has a 1 year low of $32.25 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. Equities research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business 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 annualized dividend and a dividend yield of 2.32%. Baker Hughes's dividend payout ratio is currently 31.40%.

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.