Los Angeles Capital Management LLC Sells 67,091 Shares of Baker Hughes (NASDAQ:BKR)

Los Angeles Capital Management LLC reduced its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 941,866 shares of the company's stock after selling 67,091 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.10% of Baker Hughes worth $34,048,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BKR. New Covenant Trust Company N.A. bought a new stake in Baker Hughes in the first quarter valued at approximately $34,000. Alta Advisers Ltd bought a new stake in shares of Baker Hughes in the 2nd quarter valued at $42,000. Headlands Technologies LLC acquired a new stake in Baker Hughes during the 2nd quarter worth $48,000. Quarry LP lifted its holdings in Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company's stock worth $56,000 after acquiring an additional 714 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company's stock valued at $66,000 after acquiring an additional 291 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Performance

Shares of BKR stock traded up $1.09 on Monday, reaching $44.11. The stock had a trading volume of 5,136,025 shares, compared to its average volume of 7,254,194. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $44.32. The firm has a market capitalization of $43.65 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 0.73 and a beta of 1.38. The firm's 50-day moving average is $36.57 and its two-hundred day moving average is $34.86. 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 released its quarterly earnings data 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. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.21 billion. During the same period last year, the firm posted $0.42 earnings per share. The business's revenue was up 4.0% on a year-over-year basis. On average, research analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes's payout ratio is presently 37.67%.

Wall Street Analyst Weigh In

BKR has been the topic of a number of research analyst reports. TD Cowen raised 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. Piper Sandler reduced their price target on shares of Baker Hughes from $45.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, July 15th. The Goldman Sachs Group raised their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Wells Fargo & Company upgraded Baker Hughes from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Finally, Stifel Nicolaus boosted 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. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.12.

About Baker Hughes

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.