Stack Financial Management Inc Buys Shares of 293,296 Baker Hughes Company (NASDAQ:BKR)

Stack Financial Management Inc bought a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 293,296 shares of the company's stock, valued at approximately $12,890,000.

Other large investors have also recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in Baker Hughes during the first quarter worth approximately $28,000. Golden State Wealth Management LLC boosted its stake in shares of Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after buying an additional 604 shares in the last quarter. Grove Bank & Trust boosted its stake in shares of Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after buying an additional 320 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after buying an additional 465 shares in the last quarter. Finally, Tsfg LLC boosted its position in Baker Hughes by 278.8% during the first quarter. Tsfg LLC now owns 1,485 shares of the company's stock worth $65,000 after purchasing an additional 1,093 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 1.4%

NASDAQ BKR traded up $0.54 during mid-day trading on Friday, reaching $39.72. 12,105,923 shares of the company's stock traded hands, compared to its average volume of 7,206,786. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40. The company has a fifty day simple moving average of $38.28 and a 200-day simple moving average of $40.94. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. The company has a market cap of $39.35 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 4.83 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. As a group, equities research analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's payout ratio is currently 31.40%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Evercore ISI decreased their target price on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Citigroup decreased their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Susquehanna decreased their target price on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group decreased their target price 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. Finally, Morgan Stanley decreased 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. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.44.

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.