Hourglass Capital LLC Reduces Holdings in Baker Hughes Company (NASDAQ:BKR)

Hourglass Capital LLC decreased its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 9.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,900 shares of the company's stock after selling 15,335 shares during the quarter. Baker Hughes accounts for about 1.8% of Hourglass Capital LLC's holdings, making the stock its 21st largest holding. Hourglass Capital LLC's holdings in Baker Hughes were worth $6,720,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Ninety One UK Ltd raised its position in shares of Baker Hughes by 1.3% during the 1st quarter. Ninety One UK Ltd now owns 487,547 shares of the company's stock worth $21,428,000 after purchasing an additional 6,101 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Baker Hughes by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock worth $1,075,000 after purchasing an additional 8,351 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Baker Hughes by 53.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 68,024 shares of the company's stock worth $2,990,000 after purchasing an additional 23,746 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Baker Hughes by 2.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock worth $27,314,000 after purchasing an additional 17,035 shares during the last quarter. Finally, Drake & Associates LLC grew its stake in shares of Baker Hughes by 32.5% in the 1st quarter. Drake & Associates LLC now owns 37,653 shares of the company's stock valued at $1,655,000 after buying an additional 9,226 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Stock Up 2.6%

Shares of BKR traded up $1.02 during midday trading on Tuesday, reaching $40.11. The stock had a trading volume of 6,471,771 shares, compared to its average volume of 7,159,736. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40. The company's fifty day simple moving average is $37.76 and its two-hundred day simple moving average is $41.01. The company has a market cap of $39.74 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 4.27 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 earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating 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 net margin of 10.51% and a return on equity of 14.70%. Equities research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio (DPR) is 31.40%.

Analyst Ratings Changes

BKR has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Susquehanna lowered their price objective 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. TD Cowen lowered their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Royal Bank Of Canada lowered their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, TD Securities lowered their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research 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. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.50.

About Baker Hughes

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.