Vinva Investment Management Ltd lessened its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 25.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,604 shares of the company's stock after selling 17,587 shares during the quarter. Vinva Investment Management Ltd's holdings in Baker Hughes were worth $1,903,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BKR. Bridges Investment Management Inc. lifted its holdings in shares of Baker Hughes by 3.1% in the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company's stock worth $333,000 after buying an additional 273 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company's stock worth $66,000 after buying an additional 291 shares in the last quarter. Graypoint LLC lifted its holdings in shares of Baker Hughes by 3.0% in the third quarter. Graypoint LLC now owns 10,288 shares of the company's stock worth $372,000 after buying an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Baker Hughes by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company's stock worth $1,079,000 after buying an additional 398 shares in the last quarter. Finally, Guinness Atkinson Asset Management Inc lifted its holdings in shares of Baker Hughes by 6.9% in the second quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company's stock worth $253,000 after buying an additional 467 shares in the last quarter. Institutional investors own 92.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on BKR shares. Citigroup raised their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Wells Fargo & Company raised shares of Baker Hughes from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. 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 research note on Thursday, October 3rd. Benchmark reaffirmed a "buy" rating and issued a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, Barclays raised their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes presently has an average rating of "Moderate Buy" and an average target price of $44.76.
Get Our Latest Report on BKR
Baker Hughes Trading Up 0.8 %
Shares of Baker Hughes stock traded up $0.34 on Friday, hitting $43.95. The stock had a trading volume of 2,275,652 shares, compared to its average volume of 7,187,324. The stock has a market cap of $43.49 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 0.74 and a beta of 1.38. The stock's 50-day simple moving average is $39.39 and its two-hundred day simple moving average is $36.00. Baker Hughes has a one year low of $28.32 and a one year high of $45.17. 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 (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate 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 firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. As a group, sell-side analysts predict that Baker Hughes will post 2.29 EPS for the current year.
Baker Hughes Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's dividend payout ratio (DPR) is currently 37.67%.
Baker Hughes Profile
(
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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