Bar Harbor Wealth Management Has $9.84 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Bar Harbor Wealth Management lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 0.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 223,855 shares of the company’s stock after selling 826 shares during the period. Bar Harbor Wealth Management’s holdings in Baker Hughes were worth $9,838,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. JFS Wealth Advisors LLC lifted its holdings in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Baker Hughes during the 4th quarter worth $30,000. Larson Financial Group LLC increased its position in Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Baker Hughes during the fourth quarter worth $45,000. Finally, OFI Invest Asset Management bought a new stake in shares of Baker Hughes in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $38.63 on Friday. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. 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 stock’s fifty day moving average price is $37.27 and its two-hundred day moving average price is $41.42. The firm has a market cap of $38.27 billion, a PE ratio of 12.96, a PEG ratio of 2.00 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR) 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. 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 analyst estimates of $6.54 billion. On average, equities research analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were paid 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 2.38%. Baker Hughes’s payout ratio is 31.40%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BKR shares. Barclays lowered their price target on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. TD Securities lowered their target price on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Susquehanna cut their price target on Baker Hughes from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Thursday, April 24th. Evercore ISI reduced their price target on Baker Hughes from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank of Canada lowered their price objective on Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price 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.