Morse Asset Management Inc Buys Shares of 34,950 Baker Hughes (NASDAQ:BKR)

Morse Asset Management Inc acquired a new position in shares of Baker Hughes (NASDAQ:BKR) in the 3rd quarter, HoldingsChannel reports. The firm acquired 34,950 shares of the company’s stock, valued at approximately $1,263,000.

Other institutional investors also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC raised its holdings in Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after buying an additional 2,811,940 shares during the period. Eagle Asset Management Inc. lifted its holdings in shares of Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after acquiring an additional 860,219 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Baker Hughes by 436.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after purchasing an additional 817,227 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Baker Hughes by 63.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock valued at $72,368,000 after buying an additional 780,417 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Baker Hughes in the 3rd quarter valued at $27,914,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BKR shares. Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. BMO Capital Markets lifted their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Susquehanna lifted their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.76.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $43.67 on Wednesday. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The firm’s fifty day moving average price is $39.68 and its 200 day moving average price is $36.19. The firm has a market cap of $43.21 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 0.74 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (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 business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the business posted $0.42 EPS. The company’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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.92%. Baker Hughes’s payout ratio is 37.67%.

Baker Hughes 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.