Mutual of America Capital Management LLC Sells 73,125 Shares of Baker Hughes Company (NASDAQ:BKR)

Mutual of America Capital Management LLC lowered its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 24.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 222,207 shares of the company's stock after selling 73,125 shares during the period. Mutual of America Capital Management LLC's holdings in Baker Hughes were worth $9,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in shares of Baker Hughes during the first quarter worth $28,000. Golden State Wealth Management LLC increased its position in Baker Hughes by 678.7% during the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after acquiring an additional 604 shares during the period. Grove Bank & Trust increased its position 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 acquiring an additional 320 shares during the period. Spire Wealth Management raised its stake in Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after purchasing an additional 465 shares in the last quarter. Finally, Tsfg LLC boosted its holdings in Baker Hughes by 278.8% in the 1st quarter. Tsfg LLC now owns 1,485 shares of the company's stock valued at $65,000 after purchasing an additional 1,093 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup dropped their price target 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. Royal Bank Of Canada dropped their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Barclays reduced 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. Susquehanna dropped their price target on Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group cut their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.50.

Baker Hughes Stock Up 2.5%

Shares of NASDAQ:BKR opened at $40.70 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 market capitalization of $40.32 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 5.08 and a beta of 0.91. 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 company has a fifty day moving average of $38.06 and a 200-day moving average of $40.99.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. On average, equities analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.26%. Baker Hughes's dividend payout ratio is presently 31.40%.

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.

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