Wellington Management Group LLP Has $14.76 Million Position in Baker Hughes (NASDAQ:BKR)

Wellington Management Group LLP boosted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 408,310 shares of the company’s stock after buying an additional 16,025 shares during the period. Wellington Management Group LLP’s holdings in Baker Hughes were worth $14,760,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Bridges Investment Management Inc. raised its holdings in shares of Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after acquiring an additional 273 shares during the last quarter. UMB Bank n.a. increased its holdings in Baker Hughes by 18.4% during the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after purchasing an additional 291 shares in the last quarter. Graypoint LLC lifted its holdings in shares of Baker Hughes by 3.0% in the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after purchasing an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Baker Hughes by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after purchasing an additional 398 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Baker Hughes by 4.6% during the third quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock worth $326,000 after buying an additional 401 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Down 0.4 %

BKR opened at $42.15 on Friday. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The company has a market cap of $41.71 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. 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 company has a 50 day moving average of $40.55 and a 200 day moving average of $36.70.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results 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 firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The business 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 1.99%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is presently 37.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BKR shares. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Susquehanna raised 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. BMO Capital Markets upped their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada upped their target price on Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.12.

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.