Royal London Asset Management Ltd. Decreases Position in Baker Hughes (NASDAQ:BKR)

Royal London Asset Management Ltd. trimmed its holdings in shares of Baker Hughes (NASDAQ:BKR) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 781,611 shares of the company’s stock after selling 7,546 shares during the period. Royal London Asset Management Ltd.’s holdings in Baker Hughes were worth $28,255,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKR. Hotchkis & Wiley Capital Management LLC raised its holdings in Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after buying an additional 2,811,940 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Baker Hughes by 18.6% in the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after acquiring an additional 860,219 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after acquiring an additional 817,227 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Baker Hughes by 63.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock worth $72,368,000 after purchasing an additional 780,417 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Baker Hughes in the third quarter worth about $27,914,000. 92.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup increased their price objective on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Barclays raised their price target on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Susquehanna boosted their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Trading Down 2.8 %

NASDAQ BKR opened at $41.31 on Friday. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. 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 stock’s fifty day moving average price is $39.97 and its 200-day moving average price is $36.28. The stock has a market cap of $40.88 billion, a P/E ratio of 18.52, a P/E/G ratio of 0.74 and a beta of 1.40.

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

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.03%. Baker Hughes’s payout ratio 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.