Baker Hughes (NASDAQ:BKR) Holdings Boosted by Huntington National Bank

Huntington National Bank raised its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 1,497.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 100,293 shares of the company's stock after acquiring an additional 94,014 shares during the period. Huntington National Bank's holdings in Baker Hughes were worth $3,626,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BKR. Price T Rowe Associates Inc. MD raised its position in shares of Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company's stock worth $581,729,000 after buying an additional 4,207,973 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Baker Hughes by 63.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company's stock worth $72,368,000 after acquiring an additional 780,417 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company's stock worth $306,801,000 after purchasing an additional 692,859 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company's stock valued at $348,074,000 after purchasing an additional 680,621 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Baker Hughes by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company's stock valued at $221,405,000 after purchasing an additional 612,715 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Down 0.6 %

Shares of NASDAQ:BKR traded down $0.24 during midday trading on Friday, reaching $42.94. The company had a trading volume of 4,724,373 shares, compared to its average volume of 7,242,747. The stock has a market capitalization of $42.49 billion, a P/E ratio of 19.24, a PEG ratio of 0.73 and a beta of 1.38. The stock's fifty day moving average price is $37.30 and its 200-day moving average price is $35.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a one year low of $28.32 and a one year high of $44.49.

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, beating 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%. The company's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS. Equities research analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Evercore ISI raised their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Monday, July 29th. Citigroup raised their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group decreased their price target on shares of Baker Hughes from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, September 18th. Stifel Nicolaus increased their price target on Baker Hughes from $40.00 to $45.00 and gave the company a "buy" rating in a report on Monday, July 29th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $43.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.59.

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.