Gradient Investments LLC Acquires 38,422 Shares of Baker Hughes (NASDAQ:BKR)

Gradient Investments LLC lifted its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 11.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 363,039 shares of the company's stock after acquiring an additional 38,422 shares during the period. Gradient Investments LLC's holdings in Baker Hughes were worth $15,956,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BKR. Norges Bank acquired a new stake in shares of Baker Hughes during the 4th quarter worth about $829,092,000. Raymond James Financial Inc. acquired a new position in Baker Hughes during the fourth quarter worth approximately $291,289,000. Neuberger Berman Group LLC increased its position 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 buying an additional 3,193,089 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Baker Hughes during the fourth quarter worth approximately $128,542,000. Finally, Congress Asset Management Co. acquired a new position in Baker Hughes during the fourth quarter worth approximately $107,155,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Stock Up 0.4%

BKR stock traded up $0.14 during mid-day trading on Thursday, hitting $37.43. The stock had a trading volume of 1,959,078 shares, compared to its average volume of 7,078,315. The stock has a market capitalization of $37.08 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 2.00 and a beta of 0.96. The company has a fifty day moving average of $37.58 and a 200 day moving average of $41.65. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

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 (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, equities analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.46%. Baker Hughes's dividend payout ratio (DPR) is 31.40%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays cut their price target on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. TD Securities cut their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Evercore ISI dropped their target price on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, 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 report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.11.

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.