Sumitomo Mitsui Trust Group Inc. Boosts Stake in Baker Hughes (NASDAQ:BKR)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,935,988 shares of the company's stock after buying an additional 62,718 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.30% of Baker Hughes worth $106,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BKR. Bridges Investment Management Inc. raised its position in shares of Baker Hughes by 3.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company's stock valued at $333,000 after buying an additional 273 shares during the period. UMB Bank n.a. lifted its stake in shares of Baker Hughes by 18.4% in the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company's stock valued at $66,000 after purchasing an additional 291 shares during the last quarter. Graypoint LLC increased its position in shares of Baker Hughes by 3.0% during the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company's stock worth $372,000 after purchasing an additional 301 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in Baker Hughes by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company's stock valued at $1,079,000 after buying an additional 398 shares during the period. Finally, Guinness Atkinson Asset Management Inc lifted its position in Baker Hughes by 6.9% in the second quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company's stock valued at $253,000 after buying an additional 467 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BKR shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $43.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Stifel Nicolaus upped their price objective on Baker Hughes from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. The Goldman Sachs Group upped their price target on Baker Hughes from $39.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, July 29th. Finally, Morgan Stanley raised 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. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $44.59.

Baker Hughes Stock Performance

NASDAQ:BKR traded down $0.15 during mid-day trading on Thursday, reaching $42.92. The stock had a trading volume of 3,174,326 shares, compared to its average volume of 7,235,162. 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 has a 50 day simple moving average of $37.12 and a 200 day simple moving average of $35.07. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $44.49. The firm has a market capitalization of $42.47 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 0.74 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share 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 firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes's dividend payout ratio is currently 37.67%.

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.