Brookstone Capital Management Invests $2.03 Million in Baker Hughes Company (NASDAQ:BKR)

Brookstone Capital Management bought a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 46,154 shares of the company's stock, valued at approximately $2,028,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors boosted its holdings in Baker Hughes by 0.6% in the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock worth $1,135,744,000 after purchasing an additional 177,232 shares during the last quarter. Geode Capital Management LLC increased 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 valued at $1,004,212,000 after buying an additional 465,832 shares during the last quarter. Norges Bank purchased a new stake in Baker Hughes during the fourth quarter valued at approximately $829,092,000. FMR LLC increased its holdings in Baker Hughes by 12.5% during the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after buying an additional 1,744,225 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Baker Hughes by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock valued at $473,880,000 after buying an additional 874,297 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on BKR shares. Evercore ISI reduced their target price on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Barclays reduced their target price on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus set a $50.00 price objective on shares of Baker Hughes and gave the stock a "buy" rating in a research note on Thursday, April 24th. TD Cowen reduced 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 note on Thursday, April 24th. Finally, Royal Bank Of Canada reduced 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 note 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's stock. Based on data from MarketBeat.com, Baker Hughes presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.50.

Baker Hughes Price Performance

BKR stock traded up $1.08 during trading on Tuesday, hitting $40.17. 721,761 shares of the company's stock traded hands, compared to its average volume of 7,137,620. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34. The business has a fifty day simple moving average of $37.76 and a 200 day simple moving average of $41.01. The stock has a market capitalization of $39.80 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 4.27 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, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. As a group, research analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

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.