Baker Hughes (NASDAQ:BKR) Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Baker Hughes (NASDAQ:BKR) by 436.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,004,647 shares of the company’s stock after purchasing an additional 817,227 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.10% of Baker Hughes worth $36,318,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Pension Service raised its position in Baker Hughes by 6.4% during the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after acquiring an additional 81,625 shares in the last quarter. Hixon Zuercher LLC purchased a new position in Baker Hughes during the third quarter valued at approximately $1,980,000. Wedge Capital Management L L P NC raised its position 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 valued at $25,544,000 after acquiring an additional 123,689 shares in the last quarter. Banque Cantonale Vaudoise raised its position in Baker Hughes by 76.1% during the third quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock valued at $4,434,000 after acquiring an additional 53,006 shares in the last quarter. 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

A number of research firms have recently commented on BKR. Barclays boosted their price objective on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley lifted their price target on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. BMO Capital Markets lifted their price target on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.76.

Baker Hughes Stock Performance

NASDAQ BKR opened at $43.61 on Thursday. The stock’s fifty day moving average is $39.09 and its two-hundred day moving average is $35.86. The firm has a market capitalization of $43.15 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.17.

Baker Hughes (NASDAQ:BKR) last announced 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. 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 analyst estimates of $7.21 billion. During the same quarter in the prior year, the company posted $0.42 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 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.