TCW Group Inc. Trims Position in Baker Hughes (NASDAQ:BKR)

TCW Group Inc. lowered its position in Baker Hughes (NASDAQ:BKR - Free Report) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,512,538 shares of the company's stock after selling 72,152 shares during the quarter. TCW Group Inc. owned about 0.15% of Baker Hughes worth $54,678,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Baker Hughes during the 3rd quarter valued at $30,000. True Wealth Design LLC boosted its stake in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after purchasing an additional 829 shares during the period. Groupama Asset Managment boosted its stake in shares of Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock valued at $32,000 after purchasing an additional 811,711 shares during the period. Continuum Advisory LLC grew its holdings in shares of Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company's stock worth $35,000 after purchasing an additional 796 shares during the last quarter. Finally, Alta Advisers Ltd bought a new stake in Baker Hughes during the 2nd quarter valued at about $42,000. Institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of research analyst reports. Argus upgraded shares of Baker Hughes from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Royal Bank of Canada reiterated an "outperform" rating and issued a $43.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Wells Fargo & Company upgraded Baker Hughes from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Susquehanna upped their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a "positive" rating in a report on Thursday, October 24th. Finally, UBS Group cut their price target on Baker Hughes from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $44.76.

Baker Hughes Stock Up 3.0 %

Shares of BKR traded up $1.25 during midday trading on Wednesday, hitting $42.46. 7,588,275 shares of the company's stock traded hands, compared to its average volume of 7,150,512. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $42.02 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 0.70 and a beta of 1.40. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The firm's fifty day moving average is $40.27 and its 200-day moving average is $36.52.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 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 business posted $0.42 earnings per share. The firm's revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Monday, November 4th. Baker Hughes's dividend payout ratio (DPR) is presently 37.67%.

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.