Canandaigua National Trust Co of Florida Acquires Shares of 17,750 Baker Hughes Company (NASDAQ:BKR)

Canandaigua National Trust Co of Florida acquired a new stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 17,750 shares of the company's stock, valued at approximately $780,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Larson Financial Group LLC grew its holdings in Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after buying an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC boosted its position in shares of Baker Hughes by 0.7% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company's stock valued at $1,660,000 after acquiring an additional 267 shares during the last quarter. Commerce Bank boosted its position in shares of Baker Hughes by 1.0% during the 4th quarter. Commerce Bank now owns 31,075 shares of the company's stock valued at $1,275,000 after acquiring an additional 300 shares during the last quarter. Grove Bank & Trust lifted its position in Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after buying an additional 320 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its position in Baker Hughes by 1.0% in the first quarter. Ritholtz Wealth Management now owns 34,725 shares of the company's stock worth $1,526,000 after buying an additional 339 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

BKR stock opened at $38.06 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93. The business has a 50-day moving average price of $37.48 and a 200 day moving average price of $41.08. The company has a market capitalization of $37.71 billion, a P/E ratio of 12.99, a PEG ratio of 4.05 and a beta of 0.91. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released 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 during 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%. As a group, equities research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.42%. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BKR. TD Cowen lowered their price target on 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 cut their target price on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the company a "buy" rating in a research note on Thursday, April 24th. Susquehanna cut their target price on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. Finally, Evercore ISI decreased their target price on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $49.11.

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.

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