M&T Bank Corp Purchases 3,229 Shares of Baker Hughes (NASDAQ:BKR)

M&T Bank Corp increased its position in shares of Baker Hughes (NASDAQ:BKR) by 7.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,075 shares of the company’s stock after acquiring an additional 3,229 shares during the period. M&T Bank Corp’s holdings in Baker Hughes were worth $1,738,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC grew its holdings in shares of Baker Hughes by 21.0% during the second quarter. Sequoia Financial Advisors LLC now owns 7,736 shares of the company’s stock worth $272,000 after purchasing an additional 1,342 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Baker Hughes by 20.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 28,216 shares of the company’s stock valued at $992,000 after acquiring an additional 4,884 shares during the period. Blue Trust Inc. raised its stake in shares of Baker Hughes by 54.2% during the second quarter. Blue Trust Inc. now owns 4,924 shares of the company’s stock valued at $165,000 after acquiring an additional 1,731 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Baker Hughes by 3.0% during the second quarter. Pallas Capital Advisors LLC now owns 68,281 shares of the company’s stock worth $2,451,000 after purchasing an additional 1,964 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Baker Hughes by 16.0% in the second quarter. Fifth Third Bancorp now owns 36,302 shares of the company’s stock worth $1,277,000 after purchasing an additional 4,997 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

BKR has been the topic of several recent research reports. BMO Capital Markets lifted their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. UBS Group decreased 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. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Barclays increased their price objective on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $45.12.

Baker Hughes Trading Down 0.4 %

NASDAQ BKR opened at $42.15 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 business has a 50 day moving average price of $40.55 and a 200-day moving average price of $36.70. The company has a market cap of $41.71 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 0.72 and a beta of 1.40.

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

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.99%. Baker Hughes’s payout ratio is 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.