Valley National Advisers Inc. Makes New $1.22 Million Investment in Baker Hughes Company (NASDAQ:BKR)

Valley National Advisers Inc. acquired a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,674 shares of the company's stock, valued at approximately $1,215,000.

Several other institutional investors have also modified their holdings of the company. Canandaigua National Trust Co of Florida purchased a new stake in shares of Baker Hughes during the first quarter valued at $780,000. New Wave Wealth Advisors LLC acquired a new position in Baker Hughes during the first quarter valued at $460,000. Amalgamated Bank increased its position in Baker Hughes by 1.3% in the 1st quarter. Amalgamated Bank now owns 192,489 shares of the company's stock worth $8,460,000 after purchasing an additional 2,415 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Baker Hughes by 1.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,914,818 shares of the company's stock worth $128,106,000 after purchasing an additional 33,377 shares during the last quarter. Finally, Tsfg LLC increased its position in Baker Hughes by 278.8% in the 1st quarter. Tsfg LLC now owns 1,485 shares of the company's stock worth $65,000 after purchasing an additional 1,093 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Stifel Nicolaus set a $50.00 price objective on Baker Hughes and gave the company a "buy" rating in a research note on Thursday, April 24th. Susquehanna cut their price objective on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. TD Cowen cut their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Evercore ISI cut their price objective on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Morgan Stanley cut their price objective on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Trading Down 0.7%

Shares of BKR opened at $38.06 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. Baker Hughes Company has a 12-month low of $32.25 and a 12-month high of $49.40. The firm has a market capitalization of $37.71 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 4.05 and a beta of 0.91. The stock's fifty day simple moving average is $37.48 and its 200-day simple moving average is $41.08.

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

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were issued a $0.23 dividend. 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 2.42%. Baker Hughes's dividend 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.

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