Bank of New York Mellon Corp Reduces Holdings in Baker Hughes Company (NASDAQ:BKR)

Bank of New York Mellon Corp lowered its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,225,763 shares of the company's stock after selling 144,629 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.73% of Baker Hughes worth $317,572,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BKR. Jones Financial Companies Lllp increased its position in shares of Baker Hughes by 144.6% during the 4th quarter. Jones Financial Companies Lllp now owns 9,069 shares of the company's stock valued at $372,000 after purchasing an additional 5,362 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Baker Hughes during the 4th quarter valued at approximately $30,000. Assetmark Inc. grew its stake in shares of Baker Hughes by 17.6% during the 4th quarter. Assetmark Inc. now owns 23,719 shares of the company's stock valued at $973,000 after acquiring an additional 3,556 shares during the period. Atria Investments Inc grew its stake in shares of Baker Hughes by 172.6% during the 4th quarter. Atria Investments Inc now owns 40,407 shares of the company's stock valued at $1,657,000 after acquiring an additional 25,585 shares during the period. Finally, M&T Bank Corp grew its stake in shares of Baker Hughes by 8.3% during the 4th quarter. M&T Bank Corp now owns 52,059 shares of the company's stock valued at $2,135,000 after acquiring an additional 3,984 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of BKR stock traded down $0.55 on Monday, reaching $39.09. The company's stock had a trading volume of 5,336,324 shares, compared to its average volume of 7,162,483. The stock's fifty day simple moving average is $37.70 and its 200-day simple moving average is $41.02. Baker Hughes Company has a 1 year low of $32.25 and a 1 year high of $49.40. 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 company has a market capitalization of $38.73 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 4.27 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The firm had revenue of $6.43 billion during 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 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.35%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's payout ratio is 31.40%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of recent research reports. Piper Sandler cut their price objective on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Barclays cut their price objective on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research note 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 research note on Thursday, April 24th. Royal Bank Of Canada dropped their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Citigroup cut their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.50.

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.