Plato Investment Management Ltd Lowers Stock Position in Baker Hughes (NASDAQ:BKR)

Plato Investment Management Ltd trimmed its position in Baker Hughes (NASDAQ:BKR) by 7.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 126,646 shares of the company’s stock after selling 9,963 shares during the quarter. Plato Investment Management Ltd’s holdings in Baker Hughes were worth $4,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. ICICI Prudential Asset Management Co Ltd increased its stake in Baker Hughes by 18.3% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 12,968 shares of the company’s stock worth $469,000 after buying an additional 2,005 shares in the last quarter. Empower Advisory Group LLC grew its position in shares of Baker Hughes by 2.5% during the third quarter. Empower Advisory Group LLC now owns 2,071,176 shares of the company’s stock worth $74,873,000 after purchasing an additional 50,481 shares in the last quarter. Carrera Capital Advisors bought a new stake in Baker Hughes during the 3rd quarter valued at approximately $2,035,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Baker Hughes by 2.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,935,988 shares of the company’s stock worth $106,136,000 after purchasing an additional 62,718 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Baker Hughes by 7.7% in the 3rd quarter. GSA Capital Partners LLP now owns 26,383 shares of the company’s stock worth $954,000 after purchasing an additional 1,887 shares during the period. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 1.4 %

Shares of BKR opened at $43.07 on Thursday. 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 business has a fifty day moving average of $36.94 and a 200 day moving average of $35.01. The company has a market cap of $42.62 billion, a PE ratio of 19.31, a P/E/G ratio of 0.74 and a beta of 1.38. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $44.49.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion during 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 business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $0.42 EPS. On average, sell-side analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

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 dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Benchmark restated a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. Susquehanna boosted their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, October 24th. Finally, 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. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

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.