Advisors Asset Management Inc. Raises Position in Baker Hughes (NASDAQ:BKR)

Advisors Asset Management Inc. lifted its stake in shares of Baker Hughes (NASDAQ:BKR) by 20.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,488 shares of the company’s stock after acquiring an additional 15,172 shares during the quarter. Advisors Asset Management Inc.’s holdings in Baker Hughes were worth $3,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after buying an additional 4,207,973 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Baker Hughes by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after acquiring an additional 680,621 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after acquiring an additional 692,859 shares during the last quarter. American Century Companies Inc. raised its position in shares of Baker Hughes by 3.1% during the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock worth $291,005,000 after acquiring an additional 248,122 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Baker Hughes by 7.6% during the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock worth $223,523,000 after acquiring an additional 455,307 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of BKR opened at $44.25 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17. The company has a 50-day simple moving average of $38.54 and a 200-day simple moving average of $35.63. The company has a market capitalization of $43.79 billion, a PE ratio of 19.84, a P/E/G ratio of 0.76 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last posted 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. The company had revenue of $6.91 billion during 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%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. Equities research analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 37.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. TD Cowen increased their price target 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. BMO Capital Markets increased their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Morgan Stanley raised their price objective on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group boosted their target price on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $44.59.

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.