Intech Investment Management LLC Trims Position in Baker Hughes (NASDAQ:BKR)

Intech Investment Management LLC decreased its stake 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 and Exchange Commission. The institutional investor owned 147,618 shares of the company's stock after selling 49,621 shares during the period. Intech Investment Management LLC's holdings in Baker Hughes were worth $5,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. 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 worth $49,271,000 after purchasing an additional 81,625 shares in the last quarter. Hixon Zuercher LLC bought a new position in shares of Baker Hughes in the 3rd quarter worth about $1,980,000. Wedge Capital Management L L P NC lifted its position in Baker Hughes by 20.5% during the 2nd 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 during the period. AQR Capital Management LLC boosted 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 worth $223,523,000 after acquiring an additional 455,307 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company's stock worth $581,729,000 after purchasing an additional 4,207,973 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

NASDAQ BKR opened at $44.25 on Friday. The stock has a market capitalization of $43.79 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 0.76 and a beta of 1.38. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The business's fifty day moving average price is $38.54 and its 200-day moving average price is $35.60.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share 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 net margin of 8.20% and a return on equity of 13.77%. The business's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 EPS. On average, equities analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's payout ratio is 37.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BKR shares. Morgan Stanley lifted their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, October 3rd. BMO Capital Markets lifted their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, October 10th. Citigroup increased their target price on Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. TD Cowen lifted their price target on Baker Hughes from $46.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group increased 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 research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Baker Hughes presently 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.