Baker Hughes (NASDAQ:BKR) Shares Purchased by AIA Group Ltd

AIA Group Ltd raised its position in shares of Baker Hughes (NASDAQ:BKR) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,350 shares of the company’s stock after purchasing an additional 1,738 shares during the quarter. AIA Group Ltd’s holdings in Baker Hughes were worth $1,567,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JB Capital LLC boosted its position in shares of Baker Hughes by 3.8% during the 3rd quarter. JB Capital LLC now owns 76,845 shares of the company’s stock valued at $2,778,000 after purchasing an additional 2,798 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Baker Hughes by 4.2% during the third quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company’s stock valued at $42,580,000 after purchasing an additional 47,727 shares during the last quarter. Graypoint LLC boosted its holdings in Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock worth $372,000 after buying an additional 301 shares in the last quarter. Catalina Capital Group LLC boosted its holdings in Baker Hughes by 9.7% during the third quarter. Catalina Capital Group LLC now owns 6,791 shares of the company’s stock worth $245,000 after buying an additional 598 shares in the last quarter. Finally, Hixon Zuercher LLC acquired a new position in Baker Hughes in the third quarter worth approximately $1,980,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Down 0.2 %

BKR opened at $43.02 on Friday. The company has a market capitalization of $42.56 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 0.65 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 fifty-two week low of $28.32 and a fifty-two week high of $43.67. The business has a 50-day moving average of $36.41 and a 200-day moving average of $34.76.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share 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 net margin of 8.20% and a return on equity of 13.77%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 earnings per share. Equities research analysts forecast that Baker Hughes will post 2.28 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TD Cowen raised their price objective on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group increased their price target on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Piper Sandler decreased their target price on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Morgan Stanley boosted their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.12.

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.