Swiss National Bank Sells 1,100 Shares of Baker Hughes (NASDAQ:BKR)

Swiss National Bank decreased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 0.0% in the third quarter, Holdings Channel reports. The firm owned 2,962,320 shares of the company’s stock after selling 1,100 shares during the quarter. Swiss National Bank’s holdings in Baker Hughes were worth $107,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC lifted its holdings in Baker Hughes by 27.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 31,003 shares of the company’s stock worth $1,039,000 after buying an additional 6,604 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in Baker Hughes by 126.6% during the 1st quarter. Edgestream Partners L.P. now owns 34,578 shares of the company’s stock worth $1,158,000 after buying an additional 19,320 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Baker Hughes by 26.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 49,566 shares of the company’s stock worth $1,660,000 after buying an additional 10,278 shares in the last quarter. Seven Eight Capital LP acquired a new position in Baker Hughes during the 1st quarter worth $1,431,000. Finally, UniSuper Management Pty Ltd lifted its holdings in Baker Hughes by 364.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 43,015 shares of the company’s stock worth $1,441,000 after buying an additional 33,754 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BKR. Barclays upped their price objective on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Susquehanna increased their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased their price target on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.59.

Baker Hughes Stock Performance

NASDAQ BKR opened at $43.07 on Tuesday. The firm’s fifty day moving average price is $37.67 and its two-hundred day moving average price is $35.31. The stock has a market cap of $42.62 billion, a PE ratio of 19.31, a PEG ratio of 0.72 and a beta of 1.38. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $44.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations 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 was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. On average, equities analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.95%. Baker Hughes’s dividend payout ratio (DPR) is presently 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.