Baker Hughes (NASDAQ:BKR) Stock Position Lifted by Toronto Dominion Bank

Toronto Dominion Bank increased its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 559,539 shares of the company's stock after buying an additional 32,038 shares during the period. Toronto Dominion Bank owned about 0.06% of Baker Hughes worth $22,952,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BKR. JFS Wealth Advisors LLC boosted its holdings in shares of Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after acquiring an additional 386 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $30,000. Larson Financial Group LLC boosted its holdings in shares of 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 acquiring an additional 216 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $45,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Baker Hughes during the fourth quarter worth $47,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 1.4%

Shares of NASDAQ:BKR traded down $0.54 during trading on Friday, reaching $36.82. 11,354,489 shares of the stock were exchanged, compared to its average volume of 7,093,692. 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 12-month low of $30.93 and a 12-month high of $49.40. The firm has a market cap of $36.48 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The firm's 50-day moving average price is $37.95 and its 200 day moving average price is $41.75.

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

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BKR. Wells Fargo & Company increased their price target on Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. TD Securities reduced their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Benchmark reissued a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. Piper Sandler dropped their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Citigroup dropped their price target on Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $49.11.

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.