Kovitz Investment Group Partners LLC Cuts Stock Position in Baker Hughes (NASDAQ:BKR)

Kovitz Investment Group Partners LLC decreased its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 16.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 134,446 shares of the company's stock after selling 26,561 shares during the period. Kovitz Investment Group Partners LLC's holdings in Baker Hughes were worth $5,515,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BKR. JFS Wealth Advisors LLC increased its position 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 buying an additional 386 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Baker Hughes in the fourth quarter worth approximately $30,000. Larson Financial Group LLC lifted its stake in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after purchasing an additional 216 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Baker Hughes during the 4th quarter valued at about $45,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Baker Hughes during the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BKR. TD Cowen reduced 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. Piper Sandler cut their price objective 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. Benchmark reaffirmed a "buy" rating and set a $57.00 price target on shares of Baker Hughes in a research note on Tuesday, February 11th. Royal Bank of Canada dropped their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Susquehanna decreased their price target on Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $49.11.

Baker Hughes Stock Down 1.4 %

BKR stock traded down $0.52 during mid-day trading on Wednesday, reaching $35.40. 10,523,679 shares of the company traded hands, compared to its average volume of 6,923,347. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm's 50 day moving average price is $40.95 and its 200 day moving average price is $42.05. The stock has a market cap of $35.05 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping 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 company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. As a group, equities research analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Tuesday, May 6th. 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.