WCM Investment Management LLC Sells 23,050 Shares of Baker Hughes (NASDAQ:BKR)

WCM Investment Management LLC lowered its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 26.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,372 shares of the company's stock after selling 23,050 shares during the period. WCM Investment Management LLC's holdings in Baker Hughes were worth $2,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in Baker Hughes during the 3rd quarter worth about $30,000. New Covenant Trust Company N.A. purchased a new stake in shares of Baker Hughes in the 1st quarter valued at approximately $34,000. Alta Advisers Ltd acquired a new position in Baker Hughes during the 2nd quarter worth about $42,000. Headlands Technologies LLC purchased a new position in shares of Baker Hughes in the second quarter valued at approximately $48,000. Finally, Quarry LP raised its holdings in Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company's stock valued at $56,000 after acquiring an additional 714 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Baker Hughes stock traded down $0.44 during midday trading on Tuesday, reaching $43.67. 7,212,801 shares of the stock traded hands, compared to its average volume of 7,253,778. The firm has a fifty day moving average price of $36.75 and a two-hundred day moving average price of $34.94. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $44.49. The firm has a market cap of $43.21 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 0.73 and a beta of 1.38. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data 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. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The company's revenue was up 4.0% on a year-over-year basis. On average, equities research analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes's dividend payout ratio (DPR) is 37.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BKR. Royal Bank of Canada reiterated an "outperform" rating and set a $43.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Wells Fargo & Company upgraded shares of Baker Hughes from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, July 29th. Argus raised Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Finally, UBS Group lowered their target price 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 investment 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 has a consensus rating of "Moderate Buy" and an average price target of $44.12.

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.