Baker Hughes (NASDAQ:BKR) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC raised its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 280.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,297 shares of the company's stock after purchasing an additional 31,181 shares during the period. NewEdge Advisors LLC's holdings in Baker Hughes were worth $1,735,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BKR. United Capital Financial Advisors LLC grew its position in shares of Baker Hughes by 4.2% during the fourth quarter. United Capital Financial Advisors LLC now owns 19,043 shares of the company's stock worth $781,000 after acquiring an additional 772 shares during the last quarter. Jump Financial LLC lifted its holdings in Baker Hughes by 71.0% in the fourth quarter. Jump Financial LLC now owns 14,509 shares of the company's stock valued at $595,000 after acquiring an additional 6,026 shares during the period. Canada Post Corp Registered Pension Plan acquired a new stake in Baker Hughes in the fourth quarter valued at $4,297,000. Tribune Investment Group LP acquired a new stake in Baker Hughes in the fourth quarter valued at $5,333,000. Finally, XTX Topco Ltd acquired a new position in shares of Baker Hughes during the 4th quarter worth $574,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. TD Securities dropped their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday. Royal Bank of Canada decreased their price target on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday. Wells Fargo & Company lifted their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Barclays decreased their price target on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday. 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Stock Down 0.7 %

Baker Hughes stock traded down $0.24 during midday trading on Monday, hitting $36.21. 6,833,304 shares of the stock were exchanged, compared to its average volume of 6,899,843. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The firm has a market cap of $35.85 billion, a P/E ratio of 12.15, a P/E/G ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The company has a 50 day moving average price of $41.17 and a two-hundred day moving average price of $42.09.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, sell-side analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.54%. The ex-dividend date is Tuesday, May 6th. Baker Hughes's dividend 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.