Chevy Chase Trust Holdings LLC Decreases Position in Baker Hughes (NASDAQ:BKR)

Chevy Chase Trust Holdings LLC trimmed its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 532,656 shares of the company's stock after selling 12,269 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Baker Hughes worth $19,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. National Pension Service raised its holdings in Baker Hughes by 6.4% in the third quarter. National Pension Service now owns 1,362,973 shares of the company's stock valued at $49,271,000 after buying an additional 81,625 shares during the period. Hixon Zuercher LLC acquired a new stake in Baker Hughes in the third quarter valued at $1,980,000. Wedge Capital Management L L P NC raised its holdings in Baker Hughes by 20.5% in the second quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company's stock valued at $25,544,000 after acquiring an additional 123,689 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in Baker Hughes by 76.1% in the third quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company's stock valued at $4,434,000 after acquiring an additional 53,006 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Baker Hughes by 7.6% during the second quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company's stock valued at $223,523,000 after purchasing an additional 455,307 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Down 2.5 %

BKR traded down $1.11 during trading on Wednesday, hitting $42.56. 5,836,892 shares of the company's stock traded hands, compared to its average volume of 7,152,498. The stock has a market capitalization of $42.11 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 0.74 and a beta of 1.40. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $45.17. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The company's 50 day simple moving average is $39.81 and its two-hundred day simple moving average is $36.23.

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

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.97%. The ex-dividend date was Monday, November 4th. Baker Hughes's payout ratio is 37.67%.

Analysts Set New Price Targets

Several research firms have recently commented on BKR. Stifel Nicolaus upped their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Barclays upped their price target on shares of Baker Hughes from $41.00 to $46.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. 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. UBS Group dropped their target price on Baker Hughes from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, September 18th. Finally, BMO Capital Markets increased their price objective on Baker Hughes from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. Two 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.com, the company currently has an average rating of "Moderate Buy" and an average price target of $44.76.

Baker Hughes 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.