Asset Management One Co. Ltd. Reduces Stock Position in Baker Hughes (NASDAQ:BKR)

Asset Management One Co. Ltd. trimmed its position in Baker Hughes (NASDAQ:BKR) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 382,272 shares of the company’s stock after selling 1,716 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Baker Hughes were worth $13,819,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKR. Twin Tree Management LP boosted its holdings in Baker Hughes by 183.0% in the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after purchasing an additional 219,060 shares during the last quarter. National Pension Service lifted its holdings in shares of Baker Hughes by 6.4% in the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after buying an additional 81,625 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Baker Hughes by 20.5% in the second quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock worth $25,544,000 after buying an additional 123,689 shares during the last quarter. National Bank of Canada FI grew its holdings in Baker Hughes by 4.7% during the first quarter. National Bank of Canada FI now owns 869,786 shares of the company’s stock worth $28,129,000 after acquiring an additional 39,031 shares during the period. Finally, AQR Capital Management LLC raised its position in Baker Hughes by 7.6% during the second quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after acquiring an additional 455,307 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BKR. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. BMO Capital Markets boosted their price objective on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Citigroup reduced their target price on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Finally, UBS Group cut their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Trading Up 10.8 %

BKR opened at $42.74 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The firm has a market cap of $42.29 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.64 and a beta of 1.38. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $43.23. The business has a fifty day simple moving average of $36.26 and a 200-day simple moving average of $34.70.

Baker Hughes (NASDAQ:BKR) last released its 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 company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. On average, equities analysts expect that Baker Hughes will post 2.28 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.97%. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

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.