Baker Hughes Company (NASDAQ:BKR) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP cut its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 61.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 408,236 shares of the company's stock after selling 645,711 shares during the quarter. Artemis Investment Management LLP's holdings in Baker Hughes were worth $17,942,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BKR. Sequoia Financial Advisors LLC boosted its stake in Baker Hughes by 26.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 15,103 shares of the company's stock valued at $664,000 after purchasing an additional 3,199 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Baker Hughes by 9.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,924,244 shares of the company's stock worth $84,571,000 after buying an additional 161,790 shares during the period. Phillips Wealth Planners LLC bought a new position in Baker Hughes in the 1st quarter worth approximately $245,000. Golden State Wealth Management LLC increased its position in Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after acquiring an additional 604 shares during the period. Finally, Bessemer Group Inc. raised its stake in Baker Hughes by 5.0% during the 1st quarter. Bessemer Group Inc. now owns 14,699 shares of the company's stock valued at $645,000 after acquiring an additional 705 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Price Performance

BKR opened at $38.32 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. Baker Hughes Company has a 1 year low of $32.25 and a 1 year high of $49.40. The stock has a fifty day moving average price of $37.49 and a 200 day moving average price of $41.12. The stock has a market cap of $37.97 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 3.99 and a beta of 0.91.

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, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. Analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's payout ratio is 31.40%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BKR shares. TD Cowen lowered their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Barclays lowered their price objective on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Piper Sandler cut their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Susquehanna cut their price objective on Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a report on Thursday, April 24th. Finally, TD Securities lowered their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.11.

Baker Hughes Company 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.

Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NASDAQ:BKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.