Foundry Partners LLC grew its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 81.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 374,053 shares of the company's stock after buying an additional 167,913 shares during the quarter. Foundry Partners LLC's holdings in Baker Hughes were worth $16,440,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in Baker Hughes by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock valued at $27,314,000 after purchasing an additional 17,035 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Baker Hughes by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock valued at $1,075,000 after purchasing an additional 8,351 shares during the last quarter. Geode Capital Management LLC lifted its stake in Baker Hughes by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock valued at $1,004,212,000 after purchasing an additional 465,832 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Baker Hughes by 7.2% in the first quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company's stock valued at $54,462,000 after purchasing an additional 82,706 shares during the last quarter. Finally, Stack Financial Management Inc purchased a new position in Baker Hughes in the first quarter valued at approximately $12,890,000. Institutional investors own 92.06% of the company's stock.
Analyst Ratings Changes
BKR has been the topic of several recent research reports. Morgan Stanley dropped their target price on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Evercore ISI decreased their price target on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Susquehanna decreased their price target on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. TD Securities decreased their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, TD Cowen decreased their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.44.
Get Our Latest Analysis on Baker Hughes
Baker Hughes Price Performance
NASDAQ BKR traded up $0.54 during trading hours on Friday, reaching $39.72. The company's stock had a trading volume of 12,128,180 shares, compared to its average volume of 7,226,163. The company has a market capitalization of $39.35 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 4.96 and a beta of 0.91. The firm's 50-day moving average price is $38.35 and its 200-day moving average price is $40.93. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. 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 posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. On average, equities research analysts predict 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 was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.32%. Baker Hughes's dividend payout ratio is currently 31.40%.
Baker Hughes Company Profile
(
Free Report)
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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