Cerity Partners LLC Acquires 62,980 Shares of Baker Hughes (NASDAQ:BKR)

Cerity Partners LLC grew its stake in Baker Hughes (NASDAQ:BKR) by 90.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,652 shares of the company’s stock after purchasing an additional 62,980 shares during the period. Cerity Partners LLC’s holdings in Baker Hughes were worth $4,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Eagle Asset Management Inc. raised its stake in shares of Baker Hughes by 18.6% in the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after acquiring an additional 860,219 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Baker Hughes by 63.9% in the third 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 in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Baker Hughes during the third quarter worth $27,914,000. Legal & General Group Plc grew its holdings in shares of Baker Hughes by 8.6% during 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 during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after buying an additional 680,621 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Up 0.2 %

Shares of NASDAQ BKR opened at $43.61 on Friday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17. The stock has a market cap of $43.15 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 0.73 and a beta of 1.38. 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 company’s fifty day moving average is $39.23 and its 200-day moving average is $35.92.

Baker Hughes (NASDAQ:BKR) last posted its earnings results 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 return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the previous year, the firm earned $0.42 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. Equities research analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. Baker Hughes’s payout ratio is 37.67%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Barclays raised 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. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Benchmark restated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Finally, BMO Capital Markets raised their price target on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.76.

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.