Baker Hughes (NASDAQ:BKR) Shares Bought by Brooklyn Investment Group

Brooklyn Investment Group lifted its position in shares of Baker Hughes (NASDAQ:BKR) by 7.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,756 shares of the company’s stock after purchasing an additional 490 shares during the period. Brooklyn Investment Group’s holdings in Baker Hughes were worth $244,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Dai ichi Life Insurance Company Ltd increased its stake in Baker Hughes by 74.2% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 56,360 shares of the company’s stock worth $2,037,000 after buying an additional 24,000 shares during the period. Harvest Fund Management Co. Ltd increased its position in shares of Baker Hughes by 61.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 48,770 shares of the company’s stock worth $1,763,000 after acquiring an additional 18,571 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Baker Hughes by 13.7% in the third quarter. Fisher Asset Management LLC now owns 836,156 shares of the company’s stock worth $30,227,000 after acquiring an additional 100,455 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Baker Hughes by 11.6% in the third quarter. Daiwa Securities Group Inc. now owns 185,227 shares of the company’s stock worth $6,696,000 after acquiring an additional 19,278 shares in the last quarter. Finally, Swedbank AB boosted its holdings in Baker Hughes by 24.2% in the third quarter. Swedbank AB now owns 656,571 shares of the company’s stock valued at $23,735,000 after purchasing an additional 128,031 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BKR shares. Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. BMO Capital Markets increased their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. UBS Group dropped their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Benchmark reaffirmed a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Finally, Susquehanna boosted their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Stock Performance

Shares of BKR opened at $43.53 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The firm has a fifty day moving average of $38.91 and a 200-day moving average of $35.81. The company has a market cap of $43.07 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 0.75 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Baker Hughes’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. As a group, equities analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

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