Monte Financial Group LLC Makes New $2.94 Million Investment in Baker Hughes Company (NASDAQ:BKR)

Monte Financial Group LLC acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 66,968 shares of the company’s stock, valued at approximately $2,943,000.

A number of other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Baker Hughes in the fourth quarter worth about $30,000. Larson Financial Group LLC lifted its holdings in shares of Baker Hughes by 41.2% in 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 during the last quarter. Grove Bank & Trust lifted its holdings in shares of Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company’s stock worth $33,000 after acquiring an additional 320 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Baker Hughes in the fourth quarter worth about $45,000. Finally, OFI Invest Asset Management bought a new position in shares of Baker Hughes in the fourth quarter worth about $47,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BKR shares. TD Securities dropped their target price on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Citigroup dropped their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Susquehanna dropped their price objective on shares of Baker Hughes from $48.00 to $46.00 and set a “positive” rating for the company in a report on Thursday, April 24th. Barclays dropped their price objective on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Finally, Stifel Nicolaus set a $50.00 price objective on shares of Baker Hughes and gave the company a “buy” rating in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

Baker Hughes Stock Up 0.1%

Baker Hughes stock opened at $39.00 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34. Baker Hughes Company has a 52-week low of $32.25 and a 52-week high of $49.40. The firm has a 50 day moving average price of $37.52 and a two-hundred day moving average price of $41.23. The firm has a market cap of $38.64 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 4.14 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. Equities analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) is 31.40%.

Baker Hughes Company 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.