Toronto Dominion Bank Raises Position in Baker Hughes (NASDAQ:BKR)

Toronto Dominion Bank increased its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 69.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 527,501 shares of the company's stock after purchasing an additional 216,613 shares during the period. Toronto Dominion Bank owned 0.05% of Baker Hughes worth $19,069,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes during the 3rd quarter worth approximately $30,000. True Wealth Design LLC grew its holdings in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after purchasing an additional 829 shares during the period. Continuum Advisory LLC increased its position in shares of Baker Hughes by 442.2% during the 3rd 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. Alta Advisers Ltd purchased a new stake in Baker Hughes in the 2nd quarter valued at about $42,000. Finally, Headlands Technologies LLC acquired a new position in Baker Hughes in the second quarter valued at about $48,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BKR. Morgan Stanley lifted 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. Atb Cap Markets lowered shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Wells Fargo & Company raised shares of Baker Hughes from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. Citigroup upped their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, Argus raised shares of Baker Hughes from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Baker Hughes has an average rating of "Moderate Buy" and a consensus target price of $45.12.

Baker Hughes Stock Performance

BKR traded down $0.18 during trading on Friday, hitting $42.15. 4,937,608 shares of the stock were exchanged, compared to its average volume of 7,135,821. 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 has a 1-year low of $28.32 and a 1-year high of $45.17. The stock has a fifty day moving average price of $40.47 and a two-hundred day moving average price of $36.60. The firm has a market capitalization of $41.71 billion, a P/E ratio of 18.98, a PEG ratio of 0.72 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its 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. The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. As a group, sell-side analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.99%. Baker Hughes's dividend payout ratio (DPR) is 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.