Rhumbline Advisers Purchases 93,361 Shares of Baker Hughes (NASDAQ:BKR)

Rhumbline Advisers boosted its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 5.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,768,701 shares of the company's stock after buying an additional 93,361 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Baker Hughes worth $77,734,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of BKR. Strategic Financial Concepts LLC acquired a new position in Baker Hughes in the 4th quarter valued at $640,000. Geode Capital Management LLC increased its stake in Baker Hughes by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock valued at $1,004,212,000 after purchasing an additional 465,832 shares during the last quarter. Huntington National Bank lifted its position in Baker Hughes by 16.0% during the fourth 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 during the period. Kesler Norman & Wride LLC acquired a new stake in Baker Hughes in the 4th quarter worth about $1,011,000. Finally, Brown Financial Advisors acquired a new position in shares of Baker Hughes during the 4th quarter valued at about $820,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on BKR shares. TD Securities lowered 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. Morgan Stanley lowered their price target on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Piper Sandler cut their price objective on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Citigroup reduced their price target on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada dropped their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Stock Performance

Shares of NASDAQ BKR traded down $0.14 during trading on Thursday, reaching $37.15. The stock had a trading volume of 4,716,990 shares, compared to its average volume of 7,089,031. The firm's 50 day moving average price is $37.58 and its two-hundred day moving average price is $41.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The stock has a market cap of $36.81 billion, a PE ratio of 12.47, a P/E/G ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The firm had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. On average, research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed 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 of this dividend was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.48%. Baker Hughes's payout ratio is presently 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.