Crossmark Global Holdings Inc. Boosts Holdings in Baker Hughes (NASDAQ:BKR)

Crossmark Global Holdings Inc. grew its position in shares of Baker Hughes (NASDAQ:BKR) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,795 shares of the company’s stock after purchasing an additional 1,104 shares during the period. Crossmark Global Holdings Inc.’s holdings in Baker Hughes were worth $1,620,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bridges Investment Management Inc. grew its position in 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 acquiring an additional 273 shares in the last quarter. UMB Bank n.a. lifted its stake in Baker Hughes by 18.4% during the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after purchasing an additional 291 shares during the last quarter. Graypoint LLC boosted its holdings in shares of Baker Hughes by 3.0% in the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock worth $372,000 after purchasing an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Baker Hughes by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after purchasing an additional 398 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc raised its holdings in shares of Baker Hughes by 6.9% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock valued at $253,000 after buying an additional 467 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the subject of a number of analyst reports. Stifel Nicolaus increased their price objective on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. raised their price target on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Citigroup decreased their price objective on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. BMO Capital Markets increased their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Benchmark restated a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes Trading Down 1.4 %

Shares of BKR stock opened at $43.07 on Thursday. The stock has a market capitalization of $42.62 billion, a P/E ratio of 19.31, a P/E/G ratio of 0.74 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. The firm’s 50 day moving average is $36.94 and its 200 day moving average is $35.01. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $44.49.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. Research analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

About Baker Hughes

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.