Baker Hughes (NASDAQ:BKR) Position Increased by Pitcairn Co.

Pitcairn Co. boosted its stake in shares of Baker Hughes (NASDAQ:BKR) by 30.2% in the third quarter, HoldingsChannel reports. The firm owned 12,083 shares of the company’s stock after purchasing an additional 2,805 shares during the quarter. Pitcairn Co.’s holdings in Baker Hughes were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its stake in Baker Hughes by 90.4% during the 3rd quarter. Cerity Partners LLC now owns 132,652 shares of the company’s stock valued at $4,795,000 after purchasing an additional 62,980 shares during the period. Eagle Asset Management Inc. boosted its position in shares of Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after buying an additional 860,219 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Baker Hughes by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock worth $251,304,000 after buying an additional 22,383 shares in the last quarter. Banco Santander S.A. acquired a new stake in Baker Hughes in the 3rd quarter valued at approximately $646,000. Finally, Advisors Asset Management Inc. raised its stake in Baker Hughes by 20.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 89,488 shares of the company’s stock valued at $3,235,000 after acquiring an additional 15,172 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BKR. BMO Capital Markets raised their price target on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Morgan Stanley raised their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Citigroup raised their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Barclays upped their target price on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.76.

Baker Hughes Price Performance

NASDAQ BKR opened at $43.53 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The company has a market cap of $43.07 billion, a PE ratio of 19.52, a PEG ratio of 0.75 and a beta of 1.38. The stock’s 50-day moving average price is $38.91 and its two-hundred day moving average price is $35.81.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. 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 previous year, the business earned $0.42 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

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