Tokio Marine Asset Management Co. Ltd. Reduces Stock Holdings in Baker Hughes (NASDAQ:BKR)

Tokio Marine Asset Management Co. Ltd. decreased its holdings in Baker Hughes (NASDAQ:BKR) by 3.7% in the third quarter, HoldingsChannel.com reports. The fund owned 31,321 shares of the company’s stock after selling 1,200 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Baker Hughes were worth $1,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares in the last quarter. Legal & General Group Plc raised 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 in the last quarter. American Century Companies Inc. raised its holdings in Baker Hughes by 3.1% in the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock worth $291,005,000 after purchasing an additional 248,122 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Baker Hughes by 10.2% in the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after purchasing an additional 612,715 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 0.6 %

Shares of BKR opened at $42.94 on Friday. The business’s 50 day moving average is $37.30 and its 200 day moving average is $35.13. The company has a market capitalization of $42.49 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $44.49. 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 (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. Research analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BKR. Stifel Nicolaus raised their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Susquehanna raised their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. UBS Group reduced their price target 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, Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. 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, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $44.59.

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.