Mirae Asset Global Investments Co. Ltd. Buys 56,033 Shares of Baker Hughes Company (NASDAQ:BKR)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 18.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 367,726 shares of the company's stock after acquiring an additional 56,033 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Baker Hughes were worth $16,162,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Baker Hughes by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after purchasing an additional 465,832 shares during the period. Johnson Investment Counsel Inc. acquired a new position in Baker Hughes during the first quarter valued at approximately $360,000. Whalen Wealth Management Inc. acquired a new stake in shares of Baker Hughes in the 1st quarter valued at $544,000. Huntington National Bank raised its holdings in shares of Baker Hughes by 16.0% during the 4th quarter. Huntington National Bank now owns 116,303 shares of the company's stock worth $4,771,000 after buying an additional 16,010 shares in the last quarter. Finally, Kesler Norman & Wride LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth $1,011,000. Institutional investors own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of recent analyst reports. Susquehanna decreased their target price 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. Barclays decreased their price target on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. TD Cowen dropped 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 note on Thursday, April 24th. Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Royal Bank Of Canada cut their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $49.11.

Baker Hughes Trading Down 0.7%

NASDAQ:BKR opened at $38.06 on Monday. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34. The firm's fifty day moving average is $37.48 and its 200-day moving average is $41.08. The firm has a market cap of $37.71 billion, a P/E ratio of 12.99, a P/E/G ratio of 4.05 and a beta of 0.91.

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, beating 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 business had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. Equities analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were issued a $0.23 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.42%. Baker Hughes's payout ratio 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.

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