Hourglass Capital LLC Has $6.15 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Hourglass Capital LLC reduced its stake in shares of Baker Hughes (NASDAQ:BKR) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 170,045 shares of the company’s stock after selling 2,505 shares during the quarter. Baker Hughes accounts for 1.7% of Hourglass Capital LLC’s holdings, making the stock its 25th biggest holding. Hourglass Capital LLC’s holdings in Baker Hughes were worth $6,147,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Huntington National Bank lifted its position in shares of Baker Hughes by 1,497.3% during the 3rd quarter. Huntington National Bank now owns 100,293 shares of the company’s stock worth $3,626,000 after buying an additional 94,014 shares during the last quarter. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Baker Hughes by 18.3% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 12,968 shares of the company’s stock worth $469,000 after buying an additional 2,005 shares during the last quarter. Empower Advisory Group LLC lifted its position in shares of Baker Hughes by 2.5% during the 3rd quarter. Empower Advisory Group LLC now owns 2,071,176 shares of the company’s stock worth $74,873,000 after buying an additional 50,481 shares during the last quarter. Carrera Capital Advisors bought a new stake in shares of Baker Hughes during the 3rd quarter worth $2,035,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Baker Hughes by 2.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,935,988 shares of the company’s stock worth $106,136,000 after buying an additional 62,718 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BKR has been the subject of several research reports. Benchmark reiterated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. TD Cowen raised their target price on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Morgan Stanley raised their target price on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group raised their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.12.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $43.07 on Thursday. The business’s fifty day simple moving average is $36.94 and its 200 day simple moving average is $35.01. The firm has a market capitalization of $42.62 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 0.74 and a beta of 1.38. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $44.49. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

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, beating the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 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.