Baker Hughes Company (NASDAQ:BKR) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 494,527 shares of the company's stock after purchasing an additional 13,676 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Baker Hughes were worth $21,734,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Baker Hughes during the first quarter worth approximately $28,000. Golden State Wealth Management LLC raised its holdings in Baker Hughes by 678.7% during the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after purchasing an additional 604 shares in the last quarter. Grove Bank & Trust raised its holdings in 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 purchasing an additional 320 shares in the last quarter. Spire Wealth Management raised its holdings in Baker Hughes by 132.9% during the first quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after purchasing an additional 465 shares in the last quarter. Finally, Tsfg LLC raised its holdings in Baker Hughes by 278.8% during the first quarter. Tsfg LLC now owns 1,485 shares of the company's stock worth $65,000 after purchasing an additional 1,093 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $46.55 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The firm has a market capitalization of $46.12 billion, a P/E ratio of 15.21, a PEG ratio of 5.71 and a beta of 0.91. The company's fifty day moving average is $39.06 and its two-hundred day moving average is $40.96.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $6.64 billion. During the same period in the prior year, the company posted $0.57 EPS. The business's revenue for the quarter was down 3.2% on a year-over-year basis. Analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.98%. Baker Hughes's dividend payout ratio (DPR) is presently 30.07%.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the transaction, the chief executive officer directly owned 667,593 shares of the company's stock, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BKR shares. Stifel Nicolaus cut their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Barclays lifted their target price on shares of Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Royal Bank Of Canada cut their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Piper Sandler cut 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. Finally, TD Securities cut their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" 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 issued a buy rating to the stock. According to MarketBeat, Baker Hughes presently has an average rating of "Moderate Buy" and an average price target of $49.50.

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.

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