Baker Hughes Company (NASDAQ:BKR) Stake Lessened by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT lowered its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 11.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,026 shares of the company's stock after selling 8,932 shares during the quarter. Baker Hughes accounts for approximately 1.0% of Iridian Asset Management LLC CT's holdings, making the stock its 28th biggest holding. Iridian Asset Management LLC CT's holdings in Baker Hughes were worth $3,078,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after buying an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC raised its stake in shares of Baker Hughes by 0.7% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company's stock valued at $1,660,000 after purchasing an additional 267 shares in the last quarter. Greenleaf Trust raised its stake in shares of Baker Hughes by 2.2% in the 1st quarter. Greenleaf Trust now owns 13,852 shares of the company's stock valued at $609,000 after purchasing an additional 293 shares in the last quarter. Commerce Bank raised its stake in shares of Baker Hughes by 1.0% in the 4th quarter. Commerce Bank now owns 31,075 shares of the company's stock valued at $1,275,000 after purchasing an additional 300 shares in the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after purchasing an additional 320 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Stock Performance

NASDAQ BKR traded up $0.99 on Friday, hitting $40.70. The stock had a trading volume of 5,832,208 shares, compared to its average volume of 7,193,284. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. 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 cap of $40.32 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 4.96 and a beta of 0.91. The company's 50-day moving average is $37.99 and its two-hundred day moving average is $40.99.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $6.54 billion. On average, analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Securities cut their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. TD Cowen cut their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group cut 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 note on Wednesday, July 2nd. Stifel Nicolaus set a $50.00 target price on shares of Baker Hughes and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada cut 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 note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $48.50.

Baker Hughes 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.