Hohimer Wealth Management LLC Has $1.09 Million Position in Baker Hughes Company (NASDAQ:BKR)

Hohimer Wealth Management LLC reduced its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,840 shares of the company's stock after selling 7,770 shares during the period. Hohimer Wealth Management LLC's holdings in Baker Hughes were worth $1,092,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BKR. Signaturefd LLC increased its position in shares of Baker Hughes by 4.8% during the first quarter. Signaturefd LLC now owns 8,744 shares of the company's stock valued at $384,000 after purchasing an additional 403 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Baker Hughes during the first quarter valued at approximately $12,937,000. Bleakley Financial Group LLC increased its position in shares of Baker Hughes by 4.3% during the first quarter. Bleakley Financial Group LLC now owns 21,896 shares of the company's stock valued at $962,000 after purchasing an additional 912 shares during the period. MQS Management LLC bought a new stake in shares of Baker Hughes during the first quarter valued at approximately $775,000. Finally, Reyes Financial Architecture Inc. grew its position in Baker Hughes by 22.0% in the first quarter. Reyes Financial Architecture Inc. now owns 3,894 shares of the company's stock valued at $171,000 after acquiring an additional 701 shares during the period. 92.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BKR has been the topic of a number of analyst reports. TD Cowen lowered 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. Citigroup lowered their price target on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Piper Sandler lowered their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Susquehanna lowered their price target on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada lowered their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Two equities research 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 presently has a consensus rating of "Moderate Buy" and an average target price of $48.50.

Baker Hughes Trading Up 2.5%

Shares of BKR opened at $40.70 on Monday. 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 12-month low of $32.25 and a 12-month high of $49.40. The firm has a market capitalization of $40.32 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 5.08 and a beta of 0.91. The stock's fifty day simple moving average is $38.06 and its 200-day simple moving average is $40.99.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its 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. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. As a group, research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.

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.

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