D.A. Davidson & CO. Sells 8,145 Shares of Baker Hughes Company (NASDAQ:BKR)

D.A. Davidson & CO. cut its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 13.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,638 shares of the company's stock after selling 8,145 shares during the period. D.A. Davidson & CO.'s holdings in Baker Hughes were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Baker Hughes in the fourth quarter worth $30,000. Larson Financial Group LLC grew its stake in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after buying an additional 216 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after buying an additional 604 shares in the last quarter. Grove Bank & Trust grew its stake in shares of Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after buying an additional 320 shares in the last quarter. Finally, Spire Wealth Management grew its stake in shares of Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after buying an additional 465 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Down 0.5%

BKR stock opened at $39.62 on Monday. The firm's fifty day simple moving average is $37.70 and its 200-day simple moving average is $41.02. The company has a market capitalization of $39.25 billion, a P/E ratio of 13.52, a price-to-earnings-growth 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 Company has a 12 month low of $32.25 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BKR shares. Morgan Stanley dropped 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 note on Friday, May 16th. Citigroup dropped their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Susquehanna dropped their price target on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Thursday, April 24th. TD Cowen decreased their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, 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. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.

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