IFM Investors Pty Ltd increased its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 269,720 shares of the company's stock after acquiring an additional 30,633 shares during the quarter. IFM Investors Pty Ltd's holdings in Baker Hughes were worth $11,854,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Golden State Wealth Management LLC lifted its stake in shares of Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after buying an additional 604 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Baker Hughes in the fourth quarter valued at $30,000. Larson Financial Group LLC lifted its stake in shares of Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after buying an additional 216 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after buying an additional 320 shares in the last quarter. Finally, Spire Wealth Management lifted its stake in shares of Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after buying an additional 465 shares in the last quarter. 92.06% of the stock is owned by institutional investors.
Baker Hughes Stock Performance
NASDAQ BKR traded up $1.02 during trading hours on Tuesday, reaching $40.11. 6,471,771 shares of the company were exchanged, compared to its average volume of 7,171,362. Baker Hughes Company has a 1 year low of $32.25 and a 1 year high of $49.40. The business's 50 day simple moving average is $37.84 and its 200-day simple moving average is $41.00. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $39.74 billion, a P/E ratio of 13.69, a P/E/G ratio of 4.21 and a beta of 0.91.
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, topping analysts' consensus estimates of $0.48 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. On average, equities research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.
Baker Hughes Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were given 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 2.29%. Baker Hughes's dividend payout ratio is presently 31.40%.
Wall Street Analyst Weigh In
BKR has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group dropped their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. Stifel Nicolaus set a $50.00 price objective on shares of Baker Hughes and gave the company a "buy" rating in a research note on Thursday, April 24th. TD Securities lowered their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Barclays lowered their target price on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.50.
Read Our Latest Analysis on Baker Hughes
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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