DekaBank Deutsche Girozentrale Has $17.83 Million Stake in Baker Hughes Company (NASDAQ:BKR)

DekaBank Deutsche Girozentrale reduced its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 420,504 shares of the company's stock after selling 10,335 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Baker Hughes were worth $17,831,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Capital Research Global Investors raised its stake in shares of Baker Hughes by 0.6% in the 4th quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock worth $1,135,744,000 after buying an additional 177,232 shares in the last quarter. Geode Capital Management LLC grew its holdings in Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after acquiring an additional 465,832 shares during the period. Norges Bank acquired a new position in Baker Hughes during the fourth quarter worth about $829,092,000. FMR LLC raised its position in Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after acquiring an additional 1,744,225 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Baker Hughes by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock worth $473,880,000 after acquiring an additional 874,297 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on BKR shares. Citigroup dropped their target price on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley decreased 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. The Goldman Sachs Group cut their price objective on Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Piper Sandler cut 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. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Baker Hughes has an average rating of "Moderate Buy" and an average price target of $48.50.

Baker Hughes Stock Up 2.5%

BKR stock traded up $0.99 during mid-day trading on Friday, hitting $40.70. The stock had a trading volume of 5,832,208 shares, compared to its average volume of 7,193,285. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40. The company has a fifty day moving average of $38.06 and a 200 day moving average of $40.99. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $40.32 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 4.96 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. On average, equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.23 per share. 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 2.26%. Baker Hughes's dividend payout ratio is currently 31.40%.

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.