Baker Hughes Company (NASDAQ:BKR) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 54.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,205 shares of the company's stock after purchasing an additional 24,607 shares during the quarter. QRG Capital Management Inc.'s holdings in Baker Hughes were worth $3,085,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC acquired a new position in Baker Hughes during the fourth quarter worth approximately $640,000. Geode Capital Management LLC increased its position in Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after buying an additional 465,832 shares during the period. Huntington National Bank increased its holdings in shares of Baker Hughes by 16.0% in the 4th quarter. Huntington National Bank now owns 116,303 shares of the company's stock valued at $4,771,000 after acquiring an additional 16,010 shares during the period. Kesler Norman & Wride LLC acquired a new position in shares of Baker Hughes in the 4th quarter valued at $1,011,000. Finally, Brown Financial Advisors acquired a new position in shares of Baker Hughes in the 4th quarter valued at $820,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. TD Cowen 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 Thursday, April 24th. Royal Bank Of Canada dropped their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Piper Sandler dropped 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. 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 research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $49.11.

Baker Hughes Price Performance

BKR stock traded up $0.02 on Friday, reaching $39.00. 15,735,004 shares of the company's stock were exchanged, compared to its average volume of 7,099,441. The stock has a fifty day moving average of $37.52 and a 200-day moving average of $41.22. 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 $38.64 billion, a PE ratio of 13.31, a P/E/G 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 posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping 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. As a group, equities analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders 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 2.36%. 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.