Baker Hughes Company (NASDAQ:BKR) Holdings Trimmed by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. has reduced its stake in Baker Hughes Company (NASDAQ:BKR) by 7.9%, now holding 67,845 shares valued at approximately $2.98 million.
• Baker Hughes announced a quarterly dividend of $0.23 per share, representing an annualized yield of 2.00%, with the ex-dividend date on August 5th.
• Brokerages have mixed ratings on Baker Hughes, with price targets ranging from $40.00 to $54.00, while the stock currently has an average rating of "Moderate Buy" and a consensus price target of $49.50.

Navellier & Associates Inc. cut its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 7.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 67,845 shares of the company's stock after selling 5,806 shares during the period. Navellier & Associates Inc.'s holdings in Baker Hughes were worth $2,982,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in shares of Baker Hughes in the 1st quarter valued at approximately $28,000. Golden State Wealth Management LLC raised its position in shares of Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after purchasing an additional 604 shares in the last quarter. Grove Bank & Trust raised its position in shares of Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after purchasing an additional 320 shares in the last quarter. Spire Wealth Management raised its position in shares of Baker Hughes by 132.9% in the 1st 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. Finally, Tsfg LLC raised its position in shares of 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 in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BKR has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. The Goldman Sachs Group dropped their price target on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. Stifel Nicolaus dropped their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Susquehanna upped their price target on Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a research report on Thursday. Finally, TD Cowen upped their price target on Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.50.

Baker Hughes Stock Performance

BKR traded up $0.33 during trading on Friday, reaching $46.05. 5,858,210 shares of the company were exchanged, compared to its average volume of 8,074,655. The stock has a market cap of $45.62 billion, a P/E ratio of 15.05, a PEG ratio of 5.74 and a beta of 0.91. The firm has a 50 day moving average of $38.89 and a 200 day moving average of $40.97. The company has a current ratio of 1.41, a quick ratio of 0.93 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. On average, sell-side analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is 30.07%.

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the transaction, the chief executive officer directly owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.27% of the company's stock.

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.