9,901 Shares in Baker Hughes (NASDAQ:BKR) Purchased by Wright Investors Service Inc.

Wright Investors Service Inc. bought a new stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,901 shares of the company's stock, valued at approximately $435,000.

A number of other hedge funds have also recently made changes to their positions in the business. Strategic Financial Concepts LLC bought a new position in shares of Baker Hughes in the 4th quarter worth about $640,000. Geode Capital Management LLC raised its stake in Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after acquiring an additional 465,832 shares during the period. Huntington National Bank raised its stake in Baker Hughes by 16.0% during the 4th quarter. Huntington National Bank now owns 116,303 shares of the company's stock worth $4,771,000 after acquiring an additional 16,010 shares during the period. Kesler Norman & Wride LLC bought a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $1,011,000. Finally, Brown Financial Advisors bought a new stake in Baker Hughes in the fourth quarter worth $820,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Trading Up 0.6%

Shares of NASDAQ BKR traded up $0.22 during mid-day trading on Tuesday, hitting $37.54. 5,951,447 shares of the company traded hands, compared to its average volume of 7,083,696. The business has a 50 day moving average of $37.82 and a two-hundred day moving average of $41.71. The stock has a market capitalization of $37.19 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 2.00 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.45%. Baker Hughes's payout ratio is 31.40%.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Piper Sandler decreased their price target on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Citigroup decreased their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada reduced their price target 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. Finally, Barclays reduced their price target on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.11.

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.