Baker Hughes (NASDAQ:BKR) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. reduced its stake in shares of Baker Hughes (NASDAQ:BKR) by 21.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 31,216 shares of the company’s stock after selling 8,772 shares during the period. Rockefeller Capital Management L.P.’s holdings in Baker Hughes were worth $1,127,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Eagle Asset Management Inc. grew its holdings in Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after acquiring an additional 860,219 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Baker Hughes by 436.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after purchasing an additional 817,227 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Baker Hughes by 63.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock worth $72,368,000 after purchasing an additional 780,417 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Baker Hughes during the 3rd quarter valued at approximately $27,914,000. Finally, Legal & General Group Plc lifted its stake in shares of Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after purchasing an additional 692,859 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BKR. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, BMO Capital Markets boosted their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.76.

Baker Hughes Stock Performance

NASDAQ BKR opened at $41.31 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The stock’s fifty day moving average is $40.07 and its two-hundred day moving average is $36.39. The firm has a market capitalization of $40.88 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.17.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Baker Hughes’s quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio 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.