Geode Capital Management LLC Increases Stock Holdings in Baker Hughes (NASDAQ:BKR)

Geode Capital Management LLC boosted its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,078,093 shares of the company's stock after acquiring an additional 123,172 shares during the quarter. Geode Capital Management LLC owned 2.43% of Baker Hughes worth $867,514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bridges Investment Management Inc. lifted its holdings in shares of Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company's stock worth $333,000 after buying an additional 273 shares during the period. UMB Bank n.a. lifted its stake in Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company's stock worth $66,000 after acquiring an additional 291 shares during the period. Graypoint LLC grew its holdings in Baker Hughes by 3.0% during the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company's stock worth $372,000 after acquiring an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in Baker Hughes by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company's stock valued at $1,079,000 after purchasing an additional 398 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in shares of Baker Hughes by 4.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company's stock valued at $326,000 after purchasing an additional 401 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Performance

NASDAQ:BKR traded down $0.13 during mid-day trading on Thursday, hitting $42.33. The company's stock had a trading volume of 5,719,110 shares, compared to its average volume of 7,144,938. The business's fifty day moving average is $40.37 and its two-hundred day moving average is $36.56. The stock has a market cap of $41.89 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 0.70 and a beta of 1.40. 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 has a 1 year low of $28.32 and a 1 year high of $45.17.

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

Baker Hughes Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Monday, November 4th. Baker Hughes's dividend payout ratio is currently 37.67%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BKR shares. Argus raised shares of Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Royal Bank of Canada boosted their price target on Baker Hughes from $43.00 to $49.00 and gave the stock an "outperform" rating in a research report on Thursday. Stifel Nicolaus raised their price objective on Baker Hughes from $45.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Citigroup lifted their target price on Baker Hughes from $42.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, Morgan Stanley raised their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $45.12.

About Baker Hughes

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.