KBC Group NV Has $7.32 Million Position in Baker Hughes Company (NASDAQ:BKR)

KBC Group NV lessened its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 34.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 166,581 shares of the company's stock after selling 86,698 shares during the period. KBC Group NV's holdings in Baker Hughes were worth $7,321,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Baker Hughes in the 4th quarter valued at $30,000. Larson Financial Group LLC increased its stake in 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 acquiring an additional 216 shares during the period. Golden State Wealth Management LLC raised its position in Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after purchasing an additional 604 shares in the last quarter. Grove Bank & Trust lifted its stake in Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after purchasing an additional 320 shares during the period. Finally, Spire Wealth Management boosted its holdings in Baker Hughes by 132.9% during the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after purchasing an additional 465 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Trading Up 2.9%

NASDAQ:BKR traded up $1.14 on Wednesday, hitting $39.83. 8,278,385 shares of the stock were exchanged, compared to its average volume of 7,143,274. 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 Company has a 52 week low of $32.25 and a 52 week high of $49.40. The stock has a market capitalization of $39.46 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 4.08 and a beta of 0.91. The company's 50-day moving average price is $37.49 and its 200 day moving average price is $41.04.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly 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 company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. On average, equities research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

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. This represents a $0.92 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's payout ratio is 31.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler dropped their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. TD Cowen dropped their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Barclays reduced their target price on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Citigroup dropped their target price on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the company a "buy" rating in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.