Dai ichi Life Insurance Company Ltd Raises Stock Position in Baker Hughes (NASDAQ:BKR)

Dai ichi Life Insurance Company Ltd lifted its stake in Baker Hughes (NASDAQ:BKR) by 74.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,360 shares of the company’s stock after purchasing an additional 24,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Baker Hughes were worth $2,037,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Eagle Asset Management Inc. lifted its position in Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after buying an additional 860,219 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Baker Hughes by 63.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock worth $72,368,000 after acquiring an additional 780,417 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Baker Hughes in the third quarter worth about $27,914,000. Legal & General Group Plc grew its holdings in Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after purchasing an additional 680,621 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BKR shares. UBS Group reduced their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Barclays increased their price objective on shares of Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. BMO Capital Markets upped their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $44.76.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $43.61 on Thursday. 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 has a 12-month low of $28.32 and a 12-month high of $45.17. The firm has a market capitalization of $43.15 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. The firm has a 50 day moving average of $39.09 and a 200 day moving average of $35.86.

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

Baker Hughes Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 1.93%. 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.