Fmr LLC Has $504.58 Million Position in Baker Hughes (NASDAQ:BKR)

FMR LLC lessened its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,957,832 shares of the company's stock after selling 1,374,283 shares during the period. FMR LLC owned about 1.41% of Baker Hughes worth $504,576,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Dai ichi Life Insurance Company Ltd raised its holdings in shares of Baker Hughes by 74.2% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 56,360 shares of the company's stock valued at $2,037,000 after acquiring an additional 24,000 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in shares of Baker Hughes by 61.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 48,770 shares of the company's stock valued at $1,763,000 after buying an additional 18,571 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Baker Hughes by 13.7% during the 3rd quarter. Fisher Asset Management LLC now owns 836,156 shares of the company's stock valued at $30,227,000 after buying an additional 100,455 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Baker Hughes by 11.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 185,227 shares of the company's stock valued at $6,696,000 after acquiring an additional 19,278 shares in the last quarter. Finally, Swedbank AB increased its stake in shares of Baker Hughes by 24.2% in the third quarter. Swedbank AB now owns 656,571 shares of the company's stock worth $23,735,000 after acquiring an additional 128,031 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

NASDAQ BKR traded up $0.34 during trading on Friday, hitting $43.95. The company's stock had a trading volume of 2,275,652 shares, compared to its average volume of 7,187,324. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17. The firm has a market cap of $43.49 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 0.74 and a beta of 1.38. The firm has a 50 day moving average price of $39.39 and a 200 day moving average price of $36.02. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37.

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

Baker Hughes Announces Dividend

The business 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 1.91%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's payout ratio is presently 37.67%.

Analysts Set New Price Targets

BKR has been the subject of a number of research reports. Wells Fargo & Company raised Baker Hughes from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. UBS Group lowered their price target on Baker Hughes from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets raised their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, October 10th. Argus raised shares of Baker Hughes from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Finally, Barclays raised 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. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $44.76.

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.