Baker Hughes (NASDAQ:BKR) Shares Bought by Swedbank AB

Swedbank AB lifted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 24.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 656,571 shares of the company’s stock after acquiring an additional 128,031 shares during the quarter. Swedbank AB owned 0.07% of Baker Hughes worth $23,735,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BKR. Lazard Asset Management LLC boosted its stake in Baker Hughes by 26.7% during the 1st quarter. Lazard Asset Management LLC now owns 25,882 shares of the company’s stock valued at $866,000 after acquiring an additional 5,454 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Baker Hughes by 1.5% during the 1st quarter. Janus Henderson Group PLC now owns 968,208 shares of the company’s stock worth $32,432,000 after buying an additional 14,610 shares during the last quarter. Dynasty Wealth Management LLC bought a new stake in shares of Baker Hughes in the 1st quarter valued at approximately $235,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Baker Hughes in the 1st quarter valued at approximately $279,000. Finally, California State Teachers Retirement System raised its position in shares of Baker Hughes by 8.4% during the 1st quarter. California State Teachers Retirement System now owns 2,303,740 shares of the company’s stock valued at $77,175,000 after acquiring an additional 178,509 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $43.55 on Tuesday. The stock has a market cap of $43.09 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 0.75 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The stock’s 50 day moving average price is $38.73 and its 200 day moving average price is $35.73.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 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 company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.21 per share. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.93%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Analysts Set New Price Targets

Several research firms have weighed in on BKR. The Goldman Sachs Group boosted their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. UBS Group lowered their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Finally, BMO Capital Markets raised their price target on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.76.

About Baker Hughes

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.