Huntington National Bank Increases Stake in Baker Hughes (NASDAQ:BKR)

Huntington National Bank boosted its position in shares of Baker Hughes (NASDAQ:BKRFree Report) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,501 shares of the company’s stock after purchasing an additional 416 shares during the quarter. Huntington National Bank’s holdings in Baker Hughes were worth $194,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Baker Hughes during the 3rd quarter valued at about $76,000. HighTower Advisors LLC boosted its holdings in shares of Baker Hughes by 344.9% during the 3rd quarter. HighTower Advisors LLC now owns 556,230 shares of the company’s stock valued at $19,668,000 after acquiring an additional 431,211 shares during the last quarter. Pathstone Family Office LLC boosted its holdings in shares of Baker Hughes by 194.5% during the 3rd quarter. Pathstone Family Office LLC now owns 24,628 shares of the company’s stock valued at $870,000 after acquiring an additional 16,264 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in shares of Baker Hughes in the 3rd quarter worth approximately $18,318,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Baker Hughes by 3.6% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 66,772 shares of the company’s stock worth $2,358,000 after purchasing an additional 2,334 shares during the period. 92.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BKR has been the topic of several recent research reports. Barclays lowered their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. Citigroup lowered their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Morgan Stanley increased their price objective on shares of Baker Hughes from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 17th. Finally, TD Cowen increased their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.44.

Check Out Our Latest Stock Analysis on BKR

Baker Hughes Price Performance

BKR stock opened at $29.06 on Friday. Baker Hughes has a one year low of $26.12 and a one year high of $37.58. The company’s fifty day moving average price is $31.89 and its 200-day moving average price is $34.01. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The company has a market capitalization of $29.24 billion, a PE ratio of 15.21 and a beta of 1.43.

Baker Hughes (NASDAQ:BKRGet Free Report) last released its earnings results on Wednesday, January 24th. The company reported $0.51 EPS 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 firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Baker Hughes will post 2.12 EPS for the current fiscal year.

Baker Hughes Increases Dividend

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

About Baker Hughes

(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.

See Also

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

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