Baker Hughes Company $BKR Position Cut by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Baker Hughes Company (NASDAQ:BKR) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,481,551 shares of the company’s stock after selling 44,275 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Baker Hughes worth $136,237,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Baker Hughes during the third quarter valued at $38,380,000. Moss Adams Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 11.6% during the third quarter. Moss Adams Wealth Advisors LLC now owns 4,937 shares of the company’s stock worth $271,000 after purchasing an additional 514 shares during the period. Avestar Capital LLC raised its holdings in shares of Baker Hughes by 9.1% during the third quarter. Avestar Capital LLC now owns 9,996 shares of the company’s stock worth $549,000 after purchasing an additional 837 shares during the period. State of Wyoming lifted its position in shares of Baker Hughes by 186.8% in the 3rd quarter. State of Wyoming now owns 5,715 shares of the company’s stock worth $314,000 after buying an additional 3,722 shares during the last quarter. Finally, Brian Low Financial Group LLC lifted its position in shares of Baker Hughes by 4.2% in the 3rd quarter. Brian Low Financial Group LLC now owns 23,347 shares of the company’s stock worth $1,282,000 after buying an additional 942 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BKR shares. Susquehanna lifted their price target on shares of Baker Hughes from $72.00 to $75.00 and gave the company a “positive” rating in a report on Thursday, September 10th. UBS Group lowered their price objective on shares of Baker Hughes from $72.00 to $69.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Jefferies Financial Group dropped their price objective on shares of Baker Hughes from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, September 29th. Morgan Stanley cut their target price on shares of Baker Hughes from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. Finally, The Goldman Sachs Group initiated coverage on Baker Hughes in a research note on Tuesday, September 29th. They issued a “buy” rating and a $71.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average price target of $70.27.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $53.05 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 1.76. The firm has a market capitalization of $52.66 billion, a PE ratio of 18.29, a P/E/G ratio of 2.62 and a beta of 1.04. Baker Hughes Company has a 1-year low of $44.26 and a 1-year high of $70.41. The business’s fifty day moving average price is $57.94 and its two-hundred day moving average price is $60.07.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. Baker Hughes had a net margin of 10.08% and a return on equity of 13.55%. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.74 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, research analysts expect that Baker Hughes Company will post 2.58 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Tuesday, November 10th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 annualized dividend and a dividend yield of 1.7%. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

About Baker Hughes

Baker Hughes Company (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company’s oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.