Baker Hughes (NASDAQ:BKR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in shares of Baker Hughes (NASDAQ:BKR) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 302,174 shares of the company’s stock after selling 4,090 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Baker Hughes were worth $10,924,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BKR. Ashton Thomas Securities LLC acquired a new stake in Baker Hughes in the third quarter valued at $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Baker Hughes in the first quarter valued at about $34,000. Alta Advisers Ltd purchased a new stake in Baker Hughes during the second quarter worth about $42,000. Headlands Technologies LLC acquired a new position in Baker Hughes during the second quarter worth about $48,000. Finally, Quarry LP increased its holdings in Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after buying an additional 714 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Baker Hughes stock opened at $42.94 on Monday. 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 company has a market cap of $42.49 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 0.72 and a beta of 1.38. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $44.49. The firm has a 50 day moving average price of $37.48 and a 200 day moving average price of $35.24.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Sell-side analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BMO Capital Markets boosted 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. Stifel Nicolaus upped their target price on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 29th. TD Cowen lifted their price target on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. Finally, UBS Group cut their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.59.

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.