IFM Investors Pty Ltd Increases Stake in Baker Hughes (NASDAQ:BKR)

IFM Investors Pty Ltd raised its holdings in Baker Hughes (NASDAQ:BKR) by 33.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 269,720 shares of the company’s stock after acquiring an additional 67,212 shares during the quarter. IFM Investors Pty Ltd’s holdings in Baker Hughes were worth $9,750,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new position in Baker Hughes in the first quarter valued at $27,000. New Covenant Trust Company N.A. purchased a new position in shares of Baker Hughes in the 1st quarter valued at about $34,000. Alta Advisers Ltd acquired a new position in shares of Baker Hughes during the second quarter worth about $42,000. Headlands Technologies LLC purchased a new stake in shares of Baker Hughes during the second quarter worth approximately $48,000. Finally, Quarry LP lifted its stake in Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after acquiring an additional 714 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Down 0.6 %

Shares of NASDAQ:BKR opened at $36.78 on Friday. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $39.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The stock has a market cap of $36.71 billion, a P/E ratio of 20.55, a P/E/G ratio of 0.61 and a beta of 1.38. The firm has a fifty day moving average price of $35.61 and a 200 day moving average price of $34.35.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts predict that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 2.28%. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley raised their price objective 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. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Jefferies Financial Group upped their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. UBS Group cut their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Finally, BMO Capital Markets upped their price target on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.12.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the completion of the transaction, the chief executive officer now owns 616,339 shares in the company, valued at approximately $23,759,868.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.