Baker Hughes (NASDAQ:BKR) Position Boosted by ING Groep NV

ING Groep NV grew its holdings in Baker Hughes (NASDAQ:BKR) by 41.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,315 shares of the company’s stock after purchasing an additional 41,519 shares during the period. ING Groep NV’s holdings in Baker Hughes were worth $5,109,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Metis Global Partners LLC raised its holdings in shares of Baker Hughes by 6.2% during the third quarter. Metis Global Partners LLC now owns 73,085 shares of the company’s stock worth $2,642,000 after acquiring an additional 4,269 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Baker Hughes by 1,497.3% during the 3rd quarter. Huntington National Bank now owns 100,293 shares of the company’s stock valued at $3,626,000 after buying an additional 94,014 shares during the last quarter. ICICI Prudential Asset Management Co Ltd grew its stake in shares of Baker Hughes by 18.3% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 12,968 shares of the company’s stock valued at $469,000 after buying an additional 2,005 shares in the last quarter. Empower Advisory Group LLC increased its holdings in Baker Hughes by 2.5% in the third quarter. Empower Advisory Group LLC now owns 2,071,176 shares of the company’s stock worth $74,873,000 after buying an additional 50,481 shares during the last quarter. Finally, Carrera Capital Advisors bought a new position in Baker Hughes during the third quarter valued at approximately $2,035,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. 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. Citigroup increased their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets boosted their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Evercore ISI increased their price target on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.59.

Baker Hughes Trading Down 0.6 %

Shares of BKR opened at $42.94 on Friday. The stock’s 50-day moving average price is $37.48 and its 200 day moving average price is $35.19. 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 12-month low of $28.32 and a 12-month high of $44.49. The firm has a market capitalization of $42.49 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 0.73 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the previous year, the business posted $0.42 earnings per share. Baker Hughes’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.96%. Baker Hughes’s dividend payout ratio (DPR) is currently 37.67%.

Baker Hughes Company 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.