Drake & Associates LLC Purchases 9,226 Shares of Baker Hughes Company (NASDAQ:BKR)

Drake & Associates LLC raised its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 32.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,653 shares of the company's stock after purchasing an additional 9,226 shares during the quarter. Drake & Associates LLC's holdings in Baker Hughes were worth $1,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Capital Research Global Investors grew its stake in Baker Hughes by 0.6% in the 4th quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock valued at $1,135,744,000 after purchasing an additional 177,232 shares during the period. Geode Capital Management LLC grew its stake in shares of Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after acquiring an additional 465,832 shares during the period. Norges Bank bought a new position in shares of Baker Hughes during the 4th quarter worth $829,092,000. FMR LLC grew its stake in shares of Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after acquiring an additional 1,744,225 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Baker Hughes by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock worth $473,880,000 after acquiring an additional 874,297 shares during the period. Institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded up $1.31 on Tuesday, hitting $40.40. The company's stock had a trading volume of 2,714,171 shares, compared to its average volume of 7,145,267. The company has a 50-day simple moving average of $37.76 and a 200 day simple moving average of $41.01. Baker Hughes Company has a 1 year low of $32.25 and a 1 year high of $49.40. The company has a market capitalization of $40.03 billion, a PE ratio of 13.79, a PEG 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 (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. Sell-side analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders 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 dividend yield of 2.28%. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

Analyst Ratings Changes

BKR has been the subject of several research reports. Susquehanna cut their price target on 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 cut their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Piper Sandler cut 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. Citigroup cut 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, Evercore ISI dropped their price objective on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.