Simon Quick Advisors LLC Buys Shares of 8,197 Baker Hughes (NASDAQ:BKR)

Simon Quick Advisors LLC purchased a new position in Baker Hughes (NASDAQ:BKR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,197 shares of the company's stock, valued at approximately $360,000.

A number of other large investors have also bought and sold shares of BKR. Avestar Capital LLC lifted its position in shares of Baker Hughes by 11.0% during the fourth quarter. Avestar Capital LLC now owns 7,844 shares of the company's stock valued at $322,000 after purchasing an additional 775 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Baker Hughes during the fourth quarter valued at about $205,000. New York State Teachers Retirement System increased its holdings in Baker Hughes by 2.0% during the fourth quarter. New York State Teachers Retirement System now owns 832,481 shares of the company's stock worth $34,148,000 after buying an additional 16,715 shares during the last quarter. Rhumbline Advisers increased its holdings in Baker Hughes by 2.4% during the fourth quarter. Rhumbline Advisers now owns 1,675,340 shares of the company's stock worth $68,722,000 after buying an additional 39,290 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new stake in Baker Hughes during the fourth quarter worth about $107,155,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of research analyst reports. Susquehanna decreased their price objective on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a report on Thursday, April 24th. Evercore ISI decreased their price objective on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus set a $50.00 price objective on shares of Baker Hughes and gave the stock a "buy" rating in a report on Thursday, April 24th. TD Cowen decreased their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Piper Sandler decreased their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Price Performance

NASDAQ:BKR traded up $0.41 during mid-day trading on Friday, hitting $39.04. 8,569,035 shares of the stock traded hands, compared to its average volume of 7,081,664. The business's 50-day moving average price is $37.35 and its 200 day moving average price is $41.38. The company has a market cap of $38.68 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 2.00 and a beta of 0.91. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

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

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.36%. Baker Hughes's dividend 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.