Sumitomo Mitsui Trust Group Inc. Buys 33,377 Shares of Baker Hughes Company (NASDAQ:BKR)

Sumitomo Mitsui Trust Group Inc. raised its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,914,818 shares of the company's stock after buying an additional 33,377 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.29% of Baker Hughes worth $128,106,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Larson Financial Group LLC lifted its stake in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after buying an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC lifted its stake in Baker Hughes by 0.7% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company's stock valued at $1,660,000 after buying an additional 267 shares in the last quarter. Commerce Bank lifted its stake in Baker Hughes by 1.0% in the fourth quarter. Commerce Bank now owns 31,075 shares of the company's stock valued at $1,275,000 after buying an additional 300 shares in the last quarter. Grove Bank & Trust lifted its stake in 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. Finally, Ritholtz Wealth Management lifted its stake in Baker Hughes by 1.0% in the first quarter. Ritholtz Wealth Management now owns 34,725 shares of the company's stock valued at $1,526,000 after buying an additional 339 shares in the last quarter. Institutional investors own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BKR shares. Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the company a "buy" rating in a research note on Thursday, April 24th. Morgan Stanley cut their price objective on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Barclays cut their price objective on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Susquehanna cut their price objective on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup cut their price objective 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. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $49.11.

Baker Hughes Price Performance

BKR stock opened at $38.06 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The stock has a market cap of $37.71 billion, a PE ratio of 12.99, a P/E/G ratio of 4.05 and a beta of 0.91. The firm has a 50 day simple moving average of $37.48 and a two-hundred day simple moving average of $41.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS 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 during the quarter, compared to analysts' expectations of $6.54 billion. On average, analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 2.42%. Baker Hughes's payout ratio is currently 31.40%.

Baker Hughes 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.

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