Baker Hughes (NASDAQ:BKR) Stock Holdings Cut by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,243,073 shares of the company's stock after selling 229,356 shares during the quarter. Baker Hughes accounts for 0.5% of Victory Capital Management Inc.'s investment portfolio, making the stock its 23rd largest position. Victory Capital Management Inc. owned about 1.44% of Baker Hughes worth $514,887,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BKR. Sumitomo Mitsui Trust Group Inc. boosted its stake in Baker Hughes by 2.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,935,988 shares of the company's stock worth $106,136,000 after buying an additional 62,718 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of Baker Hughes by 7.7% in the 3rd quarter. GSA Capital Partners LLP now owns 26,383 shares of the company's stock valued at $954,000 after purchasing an additional 1,887 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Baker Hughes by 42.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,998 shares of the company's stock valued at $145,000 after purchasing an additional 1,190 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in shares of Baker Hughes by 27.1% in the 3rd quarter. Chartwell Investment Partners LLC now owns 299,804 shares of the company's stock valued at $10,838,000 after purchasing an additional 63,840 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Baker Hughes in the 3rd quarter valued at $30,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 1.0 %

Shares of NASDAQ:BKR traded down $0.44 during midday trading on Tuesday, reaching $43.67. The company's stock had a trading volume of 7,212,801 shares, compared to its average volume of 7,253,778. The firm has a market cap of $43.21 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. 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 $44.49. The business has a 50 day moving average price of $36.75 and a 200 day moving average price of $34.94.

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 (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 firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. Research analysts forecast that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The firm 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 yield of 1.92%. The ex-dividend date is Monday, November 4th. Baker Hughes's dividend payout ratio is currently 37.67%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BKR shares. Stifel Nicolaus increased their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Bank of America decreased their target price 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. Royal Bank of Canada reissued an "outperform" rating and set a $43.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. 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 report on Wednesday, September 18th. Finally, Morgan Stanley upped their price target on Baker Hughes from $42.00 to $45.00 and gave the stock 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.