Bridges Investment Management Inc. Increases Position in Baker Hughes (NASDAQ:BKR)

Bridges Investment Management Inc. raised its position in shares of Baker Hughes (NASDAQ:BKR) by 3.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,203 shares of the company’s stock after purchasing an additional 273 shares during the period. Bridges Investment Management Inc.’s holdings in Baker Hughes were worth $333,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new stake in Baker Hughes during the first quarter valued at about $34,000. Alta Advisers Ltd purchased a new stake in Baker Hughes during the 2nd quarter valued at about $42,000. Headlands Technologies LLC bought a new position in Baker Hughes during the 2nd quarter worth approximately $48,000. Quarry LP increased its stake in Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after purchasing an additional 714 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Baker Hughes by 18.4% during the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after purchasing an additional 291 shares during the period. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $43.02 on Friday. The company has a 50 day simple moving average of $36.57 and a two-hundred day simple moving average of $34.83. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $43.67. The company has a market capitalization of $42.56 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 0.72 and a beta of 1.38. 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 quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.95%. The ex-dividend date is Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Citigroup cut their target price on Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Morgan Stanley lifted their price objective on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, UBS Group decreased their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes 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.