State Street Corp Reduces Position in Baker Hughes (NASDAQ:BKR)

State Street Corp reduced its position in Baker Hughes (NASDAQ:BKR - Free Report) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,011,981 shares of the company's stock after selling 564,697 shares during the quarter. State Street Corp owned about 6.77% of Baker Hughes worth $2,422,483,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in BKR. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes in the third quarter worth $30,000. True Wealth Design LLC increased its position in shares of Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after acquiring an additional 829 shares during the period. Alta Advisers Ltd purchased a new position in Baker Hughes in the 2nd quarter worth $42,000. Headlands Technologies LLC acquired a new stake in Baker Hughes during the 2nd quarter worth about $48,000. Finally, Quarry LP grew its stake in Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company's stock valued at $56,000 after purchasing an additional 714 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BKR shares. Barclays raised their price objective on Baker Hughes from $41.00 to $46.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Royal Bank of Canada reissued an "outperform" rating and set a $43.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Susquehanna upped their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a "positive" rating in a report on Thursday, October 24th. Stifel Nicolaus raised their target price on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Finally, Argus upgraded shares of Baker Hughes from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and an average target price of $44.76.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded down $0.63 during trading on Friday, hitting $41.88. 1,549,026 shares of the stock traded hands, compared to its average volume of 7,121,071. 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 company has a market cap of $41.44 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 0.74 and a beta of 1.40. The company has a fifty day moving average price of $39.97 and a two-hundred day moving average price of $36.28. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion during 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 firm's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, equities analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's payout ratio is presently 37.67%.

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.