Cornercap Investment Counsel Inc. Has $1.76 Million Holdings in Baker Hughes (NASDAQ:BKR)

Cornercap Investment Counsel Inc. lessened its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 25.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,565 shares of the company's stock after selling 16,370 shares during the quarter. Baker Hughes comprises 0.5% of Cornercap Investment Counsel Inc.'s investment portfolio, making the stock its 28th biggest holding. Cornercap Investment Counsel Inc.'s holdings in Baker Hughes were worth $1,756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bleakley Financial Group LLC grew its holdings in Baker Hughes by 12.9% during the first quarter. Bleakley Financial Group LLC now owns 21,145 shares of the company's stock worth $708,000 after acquiring an additional 2,424 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Baker Hughes by 27.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 31,003 shares of the company's stock valued at $1,039,000 after purchasing an additional 6,604 shares in the last quarter. Twin Tree Management LP boosted its holdings in Baker Hughes by 183.0% during the first quarter. Twin Tree Management LP now owns 338,738 shares of the company's stock worth $11,348,000 after buying an additional 219,060 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Baker Hughes by 31.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 743,238 shares of the company's stock worth $24,885,000 after buying an additional 178,881 shares during the period. Finally, Edgestream Partners L.P. lifted its position in shares of Baker Hughes by 126.6% during the 1st quarter. Edgestream Partners L.P. now owns 34,578 shares of the company's stock valued at $1,158,000 after acquiring an additional 19,320 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on BKR. Evercore ISI lifted their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. TD Cowen boosted their price target on Baker Hughes from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Morgan Stanley increased their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, October 3rd. Argus upgraded shares of Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and a consensus target price of $44.59.

Baker Hughes Trading Down 0.6 %

NASDAQ:BKR traded down $0.24 on Friday, hitting $42.94. 4,684,033 shares of the stock were exchanged, compared to its average volume of 7,242,565. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The stock has a market capitalization of $42.49 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 0.73 and a beta of 1.38. The company's 50-day moving average price is $37.30 and its 200 day moving average price is $35.13. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $44.49.

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

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's payout ratio is presently 37.67%.

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.