Quantinno Capital Management LP lifted its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 17.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,568 shares of the company's stock after purchasing an additional 21,890 shares during the period. Quantinno Capital Management LP's holdings in Baker Hughes were worth $5,443,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Morse Asset Management Inc purchased a new position in Baker Hughes in the third quarter valued at approximately $1,263,000. Investment Management Corp of Ontario boosted its holdings in shares of Baker Hughes by 13.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 90,204 shares of the company's stock valued at $3,261,000 after buying an additional 10,800 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company's stock valued at $394,775,000 after buying an additional 2,811,940 shares during the last quarter. Clearline Capital LP acquired a new stake in Baker Hughes during the 3rd quarter worth $6,507,000. Finally, Ascent Group LLC acquired a new position in Baker Hughes in the third quarter valued at $221,000. Institutional investors and hedge funds own 92.06% of the company's stock.
Baker Hughes Price Performance
NASDAQ:BKR traded down $1.20 during trading hours on Friday, hitting $41.31. The company's stock had a trading volume of 7,455,021 shares, compared to its average volume of 5,830,159. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The business's 50-day moving average is $40.07 and its two-hundred day moving average is $36.36. The company has a market capitalization of $40.88 billion, a PE ratio of 18.52, a PEG ratio of 0.72 and a beta of 1.40.
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. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business's revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. As a group, research analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.
Baker Hughes Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, November 4th. Baker Hughes's dividend payout ratio (DPR) is 37.67%.
Analyst Ratings Changes
BKR has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded Baker Hughes from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $43.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Morgan Stanley increased their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, October 3rd. Benchmark reaffirmed a "buy" rating and issued a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus target price of $44.76.
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About Baker Hughes
(
Free Report)
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.
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