Baker Hughes (NASDAQ:BKR) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. increased its stake in Baker Hughes (NASDAQ:BKR) by 5.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 42,175 shares of the company’s stock after buying an additional 2,305 shares during the quarter. QRG Capital Management Inc.’s holdings in Baker Hughes were worth $1,525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Baker Hughes by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after purchasing an additional 4,207,973 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in 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 acquiring an additional 780,417 shares during the period. Legal & General Group Plc raised its position in Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after acquiring an additional 692,859 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after acquiring an additional 680,621 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Baker Hughes by 10.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after purchasing an additional 612,715 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $43.10 on Friday. The firm has a market cap of $42.65 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 0.65 and a beta of 1.38. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $43.23. 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 business has a fifty day simple moving average of $36.26 and a 200 day simple moving average of $34.70.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (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 during the quarter, compared to analyst estimates of $7.21 billion. During the same period in the previous year, the company earned $0.42 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Baker Hughes will post 2.28 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s dividend payout ratio is 37.67%.

Analyst Upgrades and Downgrades

BKR has been the subject of several recent research reports. TD Cowen increased their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Barclays raised their price objective on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Piper Sandler decreased their target price on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Susquehanna upped their target price on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. 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 stock. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

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.