The Manufacturers Life Insurance Company Sells 88,011 Shares of Baker Hughes (NASDAQ:BKR)

The Manufacturers Life Insurance Company lowered its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 780,785 shares of the company's stock after selling 88,011 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Baker Hughes worth $28,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Asset Management Inc. boosted its holdings in Baker Hughes by 18.6% in the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company's stock worth $198,326,000 after purchasing an additional 860,219 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Baker Hughes by 63.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company's stock worth $72,368,000 after buying an additional 780,417 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Baker Hughes in the third quarter worth $27,914,000. Legal & General Group Plc increased its position in Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company's stock valued at $306,801,000 after acquiring an additional 692,859 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company's stock valued at $348,074,000 after acquiring an additional 680,621 shares during the period. 92.06% of the stock is owned by institutional investors.

Baker Hughes Price Performance

Shares of BKR stock traded up $0.34 during mid-day trading on Friday, hitting $43.95. The company had a trading volume of 2,275,652 shares, compared to its average volume of 7,187,324. 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 50 day moving average price is $39.39 and its 200-day moving average price is $36.02. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17. The company has a market capitalization of $43.49 billion, a P/E ratio of 19.71, a P/E/G ratio of 0.74 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. Equities research analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Monday, November 4th. Baker Hughes's payout ratio is presently 37.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BKR shares. Citigroup boosted their price target on Baker Hughes from $42.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Wells Fargo & Company upgraded shares of Baker Hughes from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. Argus upgraded shares of Baker Hughes from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Morgan Stanley boosted their price objective 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. Finally, Barclays raised their target price on Baker Hughes from $41.00 to $46.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and a consensus target price of $44.76.

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.