ING Groep NV Has $5.11 Million Stock Position in Baker Hughes (NASDAQ:BKR)

ING Groep NV grew its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 41.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,315 shares of the company's stock after acquiring an additional 41,519 shares during the quarter. ING Groep NV's holdings in Baker Hughes were worth $5,109,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company's stock valued at $581,729,000 after purchasing an additional 4,207,973 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Baker Hughes by 63.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company's stock valued at $72,368,000 after buying an additional 780,417 shares during the period. Legal & General Group Plc increased its position in shares of Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company's stock worth $306,801,000 after acquiring an additional 692,859 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company's stock worth $348,074,000 after acquiring an additional 680,621 shares during the period. Finally, Clearbridge Investments LLC lifted its position in Baker Hughes by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company's stock valued at $221,405,000 after acquiring an additional 612,715 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of BKR stock traded down $0.24 during trading on Friday, reaching $42.94. 4,724,753 shares of the company's stock were exchanged, compared to its average volume of 7,242,747. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $44.49. The firm's fifty day moving average price is $37.48 and its 200-day moving average price is $35.19. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $42.49 billion, a PE ratio of 19.26, a PEG ratio of 0.73 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company's revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, sell-side analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Monday, November 4th. Baker Hughes's dividend payout ratio is 37.67%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen lifted their price target on Baker Hughes from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Susquehanna lifted their target price on Baker Hughes from $46.00 to $48.00 and gave the company a "positive" rating in a research report on Thursday, October 24th. Argus raised Baker Hughes from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. UBS Group lowered their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, September 18th. Finally, Citigroup increased their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $44.59.

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.