29,025 Shares in Baker Hughes Company (NASDAQ:BKR) Acquired by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund bought a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,025 shares of the company's stock, valued at approximately $1,276,000.

Several other institutional investors have also recently added to or reduced their stakes in BKR. Dynasty Wealth Management LLC grew its stake in Baker Hughes by 2.7% in the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company's stock valued at $324,000 after acquiring an additional 207 shares during the period. Larson Financial Group LLC raised its stake in Baker Hughes by 41.2% in the 4th 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. Alpine Woods Capital Investors LLC lifted its holdings in Baker Hughes by 0.7% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company's stock worth $1,660,000 after purchasing an additional 267 shares during the last quarter. Commerce Bank increased its holdings in shares of Baker Hughes by 1.0% during the fourth quarter. Commerce Bank now owns 31,075 shares of the company's stock worth $1,275,000 after purchasing an additional 300 shares during the period. Finally, Grove Bank & Trust increased its position in shares of Baker Hughes by 76.2% in 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. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Performance

Shares of NASDAQ BKR traded up $0.14 during midday trading on Tuesday, reaching $37.97. 6,888,417 shares of the stock were exchanged, compared to its average volume of 7,104,690. The firm has a 50-day simple moving average of $37.52 and a two-hundred day simple moving average of $41.19. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. The firm has a market cap of $37.62 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 4.15 and a beta of 0.91. 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 (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, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. As a group, analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.42%. Baker Hughes's dividend payout ratio is currently 31.40%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus set a $50.00 target price on shares of Baker Hughes and gave the company a "buy" rating in a research report on Thursday, April 24th. TD Cowen reduced their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Piper Sandler cut their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Evercore ISI dropped their price objective on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Susquehanna cut their price objective 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. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.