Mitsubishi UFJ Trust & Banking Corp Sells 16,339 Shares of Baker Hughes (NASDAQ:BKR)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Baker Hughes (NASDAQ:BKRFree Report) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 565,650 shares of the company’s stock after selling 16,339 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Baker Hughes worth $19,979,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in Baker Hughes in the 4th quarter valued at $195,343,000. BlackRock Inc. raised its holdings in shares of Baker Hughes by 3.9% during the 2nd quarter. BlackRock Inc. now owns 94,764,470 shares of the company’s stock worth $2,995,505,000 after buying an additional 3,521,762 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Baker Hughes by 39.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,258,477 shares of the company’s stock worth $229,434,000 after buying an additional 2,038,214 shares in the last quarter. Morgan Stanley raised its holdings in shares of Baker Hughes by 27.2% during the 4th quarter. Morgan Stanley now owns 8,986,722 shares of the company’s stock worth $265,378,000 after buying an additional 1,919,760 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new position in shares of Baker Hughes during the 1st quarter worth $69,329,000. 92.22% of the stock is owned by institutional investors.

Baker Hughes Trading Down 0.9 %

NASDAQ BKR opened at $29.06 on Monday. The firm has a market capitalization of $29.09 billion, a P/E ratio of 15.21 and a beta of 1.43. The business has a fifty day simple moving average of $31.89 and a 200 day simple moving average of $34.00. Baker Hughes has a 12 month low of $26.12 and a 12 month high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKRGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company earned $0.38 earnings per share. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, analysts predict that Baker Hughes will post 2.12 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Tuesday, February 13th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, February 12th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.89%. Baker Hughes’s payout ratio is 41.88%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley boosted their price objective on Baker Hughes from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 17th. Wolfe Research lowered Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Barclays reduced their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Citigroup dropped their price objective on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Finally, TD Cowen boosted their price objective on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.44.

View Our Latest Report on Baker Hughes

Baker Hughes Company Profile

(Free Report)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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.

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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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