Sagespring Wealth Partners LLC Buys 1,365 Shares of Baker Hughes Company (NASDAQ:BKR)

Sagespring Wealth Partners LLC raised its stake in Baker Hughes Company (NASDAQ:BKR) by 10.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,117 shares of the company’s stock after acquiring an additional 1,365 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Baker Hughes were worth $620,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Dynasty Wealth Management LLC lifted its stake in Baker Hughes by 2.7% in the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock valued at $324,000 after purchasing an additional 207 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after buying an additional 216 shares during the last quarter. Alpine Woods Capital Investors LLC lifted its position in shares of Baker Hughes by 0.7% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after buying an additional 267 shares during the last quarter. Cromwell Holdings LLC grew its stake in shares of Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after acquiring an additional 269 shares during the period. Finally, Commerce Bank increased its holdings in Baker Hughes by 1.0% in the 4th quarter. Commerce Bank now owns 31,075 shares of the company’s stock worth $1,275,000 after acquiring an additional 300 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Performance

NASDAQ BKR opened at $39.60 on Wednesday. Baker Hughes Company has a 52-week low of $32.01 and a 52-week high of $49.40. The company has a fifty day moving average of $37.44 and a 200-day moving average of $41.31. The company has a market capitalization of $39.23 billion, a P/E ratio of 13.52, a P/E/G ratio of 4.14 and a beta of 0.91. 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 (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. As a group, equities research analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business 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 was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.32%. Baker Hughes’s payout ratio is currently 31.40%.

Analyst Ratings Changes

BKR has been the subject of a number of research reports. TD Securities cut their target price 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, April 24th. Citigroup cut 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. Barclays reduced their price objective on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Susquehanna dropped their target price on Baker Hughes from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Thursday, April 24th. Finally, TD Cowen reduced their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock 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.