Pathstone Holdings LLC Sells 24,365 Shares of Baker Hughes (NASDAQ:BKR)

Pathstone Holdings LLC cut its position in shares of Baker Hughes (NASDAQ:BKR) by 15.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 131,883 shares of the company’s stock after selling 24,365 shares during the period. Pathstone Holdings LLC’s holdings in Baker Hughes were worth $4,768,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BKR. National Pension Service boosted its holdings in shares of Baker Hughes by 6.4% during 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 in the last quarter. Hixon Zuercher LLC purchased a new position in Baker Hughes during the 3rd quarter valued at about $1,980,000. Wedge Capital Management L L P NC boosted its stake in Baker Hughes by 20.5% during 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 acquiring an additional 123,689 shares in the last quarter. AQR Capital Management LLC grew its holdings in Baker Hughes by 7.6% in the second quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock worth $223,523,000 after purchasing an additional 455,307 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after purchasing an additional 4,207,973 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on BKR shares. Morgan Stanley boosted their price target on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Benchmark reaffirmed a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their target price 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. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $44.59.

Baker Hughes Stock Down 1.4 %

Baker Hughes stock opened at $44.25 on Friday. Baker Hughes has a one year low of $28.32 and a one year high of $45.17. The stock has a fifty day moving average of $38.54 and a 200 day moving average of $35.63. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The stock has a market cap of $43.79 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 0.76 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. As a group, sell-side analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is 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.