MML Investors Services LLC Boosts Holdings in Baker Hughes (NASDAQ:BKR)

MML Investors Services LLC raised its position in shares of Baker Hughes (NASDAQ:BKR) by 14.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,340 shares of the company’s stock after acquiring an additional 2,214 shares during the period. MML Investors Services LLC’s holdings in Baker Hughes were worth $627,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes during the 3rd quarter worth approximately $30,000. True Wealth Design LLC lifted its position in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares during the last quarter. Alta Advisers Ltd purchased a new stake in shares of Baker Hughes during the second quarter valued at $42,000. Headlands Technologies LLC bought a new position in shares of Baker Hughes in the second quarter worth about $48,000. Finally, Quarry LP increased its stake in Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after buying an additional 714 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on BKR shares. Citigroup boosted their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. UBS Group lowered 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. Wells Fargo & Company raised their price objective on Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler initiated coverage on Baker Hughes in a report on Thursday. They issued an “overweight” rating and a $53.00 target price for the company. Finally, Benchmark restated a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.00.

Baker Hughes Price Performance

Shares of BKR opened at $40.32 on Friday. The company has a 50 day moving average of $40.85 and a two-hundred day moving average of $36.99. The company has a market cap of $39.90 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. 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 has a twelve month low of $28.32 and a twelve month high of $45.17.

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 return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is currently 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.