Hotchkis & Wiley Capital Management LLC Acquires 2,811,940 Shares of Baker Hughes (NASDAQ:BKR)

Hotchkis & Wiley Capital Management LLC boosted its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 34.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,920,478 shares of the company's stock after acquiring an additional 2,811,940 shares during the period. Baker Hughes accounts for 1.3% of Hotchkis & Wiley Capital Management LLC's investment portfolio, making the stock its 28th largest holding. Hotchkis & Wiley Capital Management LLC owned about 1.10% of Baker Hughes worth $394,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes during the 3rd quarter worth $30,000. True Wealth Design LLC raised its holdings in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after buying an additional 829 shares in the last quarter. Alta Advisers Ltd purchased a new position in shares of Baker Hughes during the 2nd quarter valued at about $42,000. Headlands Technologies LLC purchased a new position in Baker Hughes in the 2nd quarter worth approximately $48,000. Finally, Quarry LP increased its stake in Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company's stock worth $56,000 after purchasing an additional 714 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on BKR. Argus raised Baker Hughes from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Morgan Stanley increased their target price on Baker Hughes from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, October 3rd. Citigroup raised their price objective 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 Baker Hughes from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Finally, Barclays lifted their price target on Baker Hughes from $41.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $44.76.

Baker Hughes Stock Performance

BKR traded down $0.02 on Tuesday, hitting $43.67. 3,583,562 shares of the company's stock were exchanged, compared to its average volume of 7,158,144. The firm has a market cap of $43.21 billion, a PE ratio of 19.59, a P/E/G ratio of 0.74 and a beta of 1.40. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17. The stock has a fifty day moving average of $39.39 and a two-hundred day moving average of $36.04. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

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

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. Baker Hughes's dividend payout ratio is 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.