Baker Hughes (NASDAQ:BKR) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its stake in shares of Baker Hughes (NASDAQ:BKR) by 20.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 89,488 shares of the company’s stock after buying an additional 15,172 shares during the period. Advisors Asset Management Inc.’s holdings in Baker Hughes were worth $3,235,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes during the 3rd quarter worth about $30,000. New Covenant Trust Company N.A. acquired a new stake in Baker Hughes during the first quarter worth approximately $34,000. Alta Advisers Ltd purchased a new stake in Baker Hughes in the 2nd quarter worth approximately $42,000. Headlands Technologies LLC acquired a new position in Baker Hughes in the 2nd quarter valued at $48,000. Finally, Quarry LP lifted its stake in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after purchasing an additional 714 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 1.4 %

BKR stock opened at $44.25 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The firm has a 50 day simple moving average of $38.54 and a 200-day simple moving average of $35.63. The company has a market capitalization of $43.79 billion, a P/E ratio of 19.84, a PEG ratio of 0.76 and a beta of 1.38. 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 quarterly earnings data 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 net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period last year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 yield of 1.90%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

Analyst Ratings Changes

Several research firms recently commented on BKR. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Susquehanna upped their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. UBS Group decreased their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. The Goldman Sachs Group boosted their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Barclays increased their price target on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus 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.