Baker Hughes Company (NASDAQ:BKR) Shares Purchased by IFM Investors Pty Ltd

IFM Investors Pty Ltd lifted its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital Research Global Investors increased its stake in shares of Baker Hughes by 0.6% during the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock worth $1,135,744,000 after acquiring an additional 177,232 shares during the period. Geode Capital Management LLC increased its stake in shares of Baker Hughes by 1.9% during the fourth 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 acquired a new position in shares of Baker Hughes during the fourth quarter worth about $829,092,000. FMR LLC increased its stake in shares of Baker Hughes by 12.5% during the fourth 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 increased its stake in shares of Baker Hughes by 8.2% during the fourth 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. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BKR. Morgan Stanley dropped their price target on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Susquehanna lowered their target price on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. Piper Sandler lowered their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group lowered their target price on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Royal Bank Of Canada lowered their target price on shares of 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 investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.50.

Baker Hughes Trading Down 0.5%

NASDAQ BKR traded down $0.21 during mid-day trading on Friday, reaching $39.62. 3,607,099 shares of the stock were exchanged, compared to its average volume of 7,169,819. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40. The business's fifty day simple moving average is $37.70 and its 200 day simple moving average is $41.01. The stock has a market capitalization of $39.25 billion, a PE ratio of 13.52, a PEG ratio of 4.27 and a beta of 0.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34.

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

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors 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 2.32%. Baker Hughes's dividend payout ratio (DPR) 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.