Dakota Wealth Management Makes New $4.55 Million Investment in Baker Hughes Company (NASDAQ:BKR)

Dakota Wealth Management purchased a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 103,539 shares of the company's stock, valued at approximately $4,551,000.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Baker Hughes in the fourth quarter valued at approximately $829,092,000. Neuberger Berman Group LLC lifted its stake in Baker Hughes by 2,527.6% during the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock worth $136,158,000 after purchasing an additional 3,193,089 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Baker Hughes during the fourth quarter worth $128,542,000. FMR LLC lifted its stake in Baker Hughes by 12.5% during the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after purchasing an additional 1,744,225 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Baker Hughes by 18.4% during the fourth quarter. Northern Trust Corp now owns 10,000,756 shares of the company's stock worth $410,231,000 after purchasing an additional 1,553,536 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded down $0.88 during midday trading on Tuesday, reaching $38.99. The stock had a trading volume of 5,068,356 shares, compared to its average volume of 7,186,967. The company has a market capitalization of $38.63 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 5.08 and a beta of 0.91. The stock has a 50-day moving average of $38.12 and a 200-day moving average of $40.98. Baker Hughes Company has a 12-month low of $32.25 and a 12-month 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.

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

Baker Hughes Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.36%. Baker Hughes's payout ratio is 31.40%.

Analyst Ratings Changes

A number of brokerages have recently commented on BKR. Barclays dropped their price target 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. Piper Sandler dropped their price target 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. Morgan Stanley dropped their price target on 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 target on Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Stifel Nicolaus set a $50.00 price target on Baker Hughes and gave the company a "buy" rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.50.

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.