Hudson Valley Investment Advisors Inc. ADV Cuts Stake in Baker Hughes (NASDAQ:BKR)

Hudson Valley Investment Advisors Inc. ADV cut its holdings in Baker Hughes (NASDAQ:BKR) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,136 shares of the company’s stock after selling 13,538 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Baker Hughes were worth $5,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes during the third quarter valued at about $30,000. True Wealth Design LLC increased its stake in Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares during the last quarter. Groupama Asset Managment raised its holdings in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after acquiring an additional 811,711 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after acquiring an additional 796 shares during the last quarter. Finally, Alta Advisers Ltd purchased a new position in shares of Baker Hughes in the second quarter valued at $42,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Price Performance

Shares of BKR stock opened at $43.44 on Friday. The company has a market capitalization of $42.99 billion, a P/E ratio of 19.48, a P/E/G ratio of 0.72 and a beta of 1.39. The company’s 50-day simple moving average is $42.17 and its two-hundred day simple moving average is $37.89. Baker Hughes has a one year low of $28.32 and a one year high of $45.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Baker Hughes’s revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BKR shares. Benchmark reaffirmed a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Royal Bank of Canada upped their target price on shares of Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Jefferies Financial Group upped their price objective on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, TD Cowen dropped their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.18.

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.