Baker Hughes (NASDAQ:BKR) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,177,877 shares of the company's stock after buying an additional 47,727 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Baker Hughes worth $42,580,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new stake in shares of Baker Hughes during the first quarter worth $34,000. Alta Advisers Ltd bought a new stake in shares of Baker Hughes in the second quarter valued at about $42,000. Headlands Technologies LLC bought a new stake in shares of Baker Hughes in the second quarter valued at about $48,000. Quarry LP raised its holdings in shares of Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company's stock valued at $56,000 after acquiring an additional 714 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of 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 in 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 $1.09 during trading hours on Monday, reaching $44.11. The company had a trading volume of 5,136,025 shares, compared to its average volume of 7,254,194. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $44.32. The firm has a market cap of $43.65 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. The business's 50 day moving average price is $36.57 and its 200-day moving average price is $34.86. 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 (NASDAQ:BKR - Get Free Report) last announced its quarterly 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. 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 the consensus estimate of $7.21 billion. During the same period in the previous year, the company posted $0.42 earnings per share. Baker Hughes's revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts forecast that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.21 per share. 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 37.67%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup decreased their price objective on Baker Hughes from $44.00 to $42.00 and set a "buy" rating for the company in a report on Friday, September 27th. Argus upgraded shares of Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. BMO Capital Markets boosted their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. TD Cowen boosted their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Finally, Bank of America dropped their price target on Baker Hughes from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Monday, July 15th. Two 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 currently has an average rating of "Moderate Buy" and a consensus price target of $44.12.

Baker Hughes 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.