Lmcg Investments LLC Trims Stock Position in Baker Hughes (NASDAQ:BKR)

Lmcg Investments LLC decreased its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 18.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,769 shares of the company's stock after selling 22,623 shares during the period. Lmcg Investments LLC's holdings in Baker Hughes were worth $4,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC lifted its position in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after buying an additional 386 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Baker Hughes in the 4th quarter valued at $30,000. 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 purchasing an additional 216 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Baker Hughes in the 4th quarter valued at $45,000. Finally, OFI Invest Asset Management acquired a new position in Baker Hughes in the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

Baker Hughes stock traded down $0.14 during trading hours on Thursday, hitting $37.15. The stock had a trading volume of 4,728,878 shares, compared to its average volume of 7,098,786. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock has a market capitalization of $36.81 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 2.00 and a beta of 0.96. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The stock's fifty day moving average is $37.58 and its two-hundred day moving average is $41.65.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data 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. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. As a group, analysts predict that Baker Hughes will post 2.59 earnings per share 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 given 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 2.48%. Baker Hughes's dividend payout ratio is currently 31.40%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler cut their price objective on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Benchmark restated a "buy" rating and set a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Susquehanna dropped their target price on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. TD Securities dropped their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Barclays dropped their target price on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $49.11.

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.