Reinhart Partners LLC. lowered its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 231,807 shares of the company's stock after selling 17,754 shares during the quarter. Reinhart Partners LLC.'s holdings in Baker Hughes were worth $10,188,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its stake in shares of Baker Hughes by 135.9% in 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 during the period. SBI Securities Co. Ltd. acquired a new stake in Baker Hughes in the fourth quarter worth about $30,000. Larson Financial Group LLC raised its holdings in Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after purchasing an additional 216 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Baker Hughes during the 4th quarter valued at about $45,000. Finally, OFI Invest Asset Management bought a new position in shares of Baker Hughes in the 4th quarter valued at about $47,000. Institutional investors own 92.06% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada dropped their price target on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Barclays cut their price target on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Piper Sandler decreased their price objective on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. 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 note on Friday, May 16th. Finally, Citigroup reduced their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.11.
Check Out Our Latest Analysis on Baker Hughes
Baker Hughes Price Performance
BKR stock opened at $37.90 on Friday. The stock has a 50-day moving average price of $37.30 and a two-hundred day moving average price of $41.57. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The stock has a market cap of $37.55 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Equities analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.
Baker Hughes Announces Dividend
The firm 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio is presently 31.40%.
Baker Hughes Company Profile
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Free Report)
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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