TCW Group Inc. Sells 72,152 Shares of Baker Hughes (NASDAQ:BKR)

TCW Group Inc. decreased its position in shares of Baker Hughes (NASDAQ:BKR) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,512,538 shares of the company’s stock after selling 72,152 shares during the quarter. TCW Group Inc.’s holdings in Baker Hughes were worth $54,678,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Baker Hughes during the third quarter valued at $30,000. True Wealth Design LLC grew its position in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares during the period. Groupama Asset Managment increased its stake in shares of Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares in the last quarter. Continuum Advisory LLC lifted its position in Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after purchasing an additional 796 shares in the last quarter. Finally, Alta Advisers Ltd bought a new stake in Baker Hughes during the second quarter valued at about $42,000. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

BKR has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. 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 note on Thursday, October 24th. Citigroup lifted their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Susquehanna increased their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $44.76.

Baker Hughes Price Performance

BKR opened at $41.21 on Wednesday. The business has a fifty day moving average of $40.27 and a 200 day moving average of $36.52. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The stock has a market cap of $40.78 billion, a P/E ratio of 18.48, a PEG ratio of 0.70 and a beta of 1.40. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate 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. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is presently 37.67%.

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.