Vontobel Holding Ltd. Sells 29,625 Shares of Baker Hughes Company (NASDAQ:BKR)

Vontobel Holding Ltd. cut its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,872 shares of the company's stock after selling 29,625 shares during the quarter. Vontobel Holding Ltd.'s holdings in Baker Hughes were worth $5,093,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Baker Hughes in the 4th quarter worth approximately $30,000. Larson Financial Group LLC lifted its position in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after acquiring an additional 216 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings 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 worth $30,000 after acquiring an additional 604 shares during the period. Grove Bank & Trust grew its position 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 purchasing an additional 320 shares in the last quarter. Finally, Spire Wealth Management raised its stake in shares of Baker Hughes by 132.9% during the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after purchasing an additional 465 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays cut their target price on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Royal Bank Of Canada cut their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group reduced their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday. Piper Sandler lowered their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, Morgan Stanley cut their price target on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.50.

Baker Hughes Price Performance

Shares of Baker Hughes stock traded down $0.21 during trading on Friday, hitting $39.62. 3,607,099 shares of the stock traded hands, compared to its average volume of 7,156,428. The stock has a market cap of $39.25 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 4.27 and a beta of 0.91. 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 52 week low of $32.25 and a 52 week high of $49.40. The firm's fifty day moving average is $37.70 and its 200-day moving average is $41.00.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. Research analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders 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 annualized dividend and a dividend yield of 2.32%. 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.