Hixon Zuercher LLC Acquires Shares of 54,785 Baker Hughes (NASDAQ:BKR)

Hixon Zuercher LLC acquired a new position in Baker Hughes (NASDAQ:BKR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 54,785 shares of the company's stock, valued at approximately $1,980,000.

Several other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in Baker Hughes by 8.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company's stock valued at $782,000 after acquiring an additional 1,829 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Baker Hughes during the first quarter valued at approximately $738,000. Empirical Finance LLC lifted its holdings in shares of Baker Hughes by 3.9% during the first quarter. Empirical Finance LLC now owns 31,892 shares of the company's stock valued at $1,068,000 after acquiring an additional 1,211 shares during the period. Sciencast Management LP grew its position in shares of Baker Hughes by 301.9% during the 1st quarter. Sciencast Management LP now owns 25,593 shares of the company's stock worth $857,000 after buying an additional 19,225 shares during the period. Finally, Empowered Funds LLC grew its holdings in Baker Hughes by 13.0% during the first quarter. Empowered Funds LLC now owns 218,674 shares of the company's stock worth $7,326,000 after purchasing an additional 25,192 shares during the period. Institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Argus raised shares of Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Evercore ISI upped their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Monday, July 29th. Citigroup lowered their target price on shares of Baker Hughes from $44.00 to $42.00 and set a "buy" rating on the stock in a research report on Friday, September 27th. Finally, Benchmark reaffirmed a "buy" rating and set a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.12.

Baker Hughes Price Performance

Baker Hughes stock traded up $4.16 during trading hours on Wednesday, hitting $42.74. The stock had a trading volume of 13,753,998 shares, compared to its average volume of 7,242,179. The stock has a market capitalization of $42.29 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 0.64 and a beta of 1.38. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $43.23. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The stock's fifty day moving average is $36.26 and its two-hundred day moving average is $34.70.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Baker Hughes's revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. As a group, analysts predict that Baker Hughes will post 2.28 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Monday, November 4th. Baker Hughes's dividend payout ratio (DPR) is presently 37.67%.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the firm's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company's stock.

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.