16,591 Shares in Baker Hughes Company (NASDAQ:BKR) Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,591 shares of the company's stock, valued at approximately $729,000.

Several other hedge funds have also bought and sold shares of the business. Wayfinding Financial LLC purchased a new position in Baker Hughes in the first quarter worth about $28,000. Golden State Wealth Management LLC raised its holdings in Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after buying an additional 604 shares during the last quarter. Grove Bank & Trust raised its holdings 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. Spire Wealth Management raised its holdings in Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after buying an additional 465 shares during the last quarter. Finally, Tsfg LLC raised its holdings in Baker Hughes by 278.8% in the first quarter. Tsfg LLC now owns 1,485 shares of the company's stock worth $65,000 after buying an additional 1,093 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Performance

NASDAQ BKR traded up $0.33 during trading hours on Friday, hitting $46.05. 5,858,210 shares of the company's stock traded hands, compared to its average volume of 8,074,655. The business's fifty day moving average price is $38.89 and its two-hundred day moving average price is $40.95. The company has a current ratio of 1.41, a quick ratio of 0.93 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $45.62 billion, a P/E ratio of 15.05, a P/E/G ratio of 5.78 and a beta of 0.91. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 earnings per share. Equities research analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.00%. Baker Hughes's dividend payout ratio is presently 30.07%.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the sale, the chief executive officer owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BKR shares. UBS Group lifted their target price on shares of Baker Hughes from $40.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday. Piper Sandler decreased their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. TD Cowen boosted their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a report on Thursday. Evercore ISI decreased their price objective 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. Finally, Susquehanna boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a report on Thursday. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $49.50.

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.