11,170 Baker Hughes Company $BKR Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. lowered its position in shares of Baker Hughes Company (NASDAQ:BKR) by 16.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,590 shares of the company’s stock after selling 11,170 shares during the quarter. Reinhart Partners LLC.’s holdings in Baker Hughes were worth $3,217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cardano Risk Management B.V. raised its stake in Baker Hughes by 1,005.1% during the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after purchasing an additional 44,887,481 shares during the period. Amundi raised its position in Baker Hughes by 28.2% during the first quarter. Amundi now owns 10,946,464 shares of the company’s stock valued at $668,282,000 after buying an additional 2,409,978 shares during the period. Advent International L.P. purchased a new stake in Baker Hughes in the 1st quarter worth about $72,309,000. Panagora Asset Management Inc. lifted its stake in Baker Hughes by 79.6% in the 4th quarter. Panagora Asset Management Inc. now owns 2,393,530 shares of the company’s stock worth $109,001,000 after acquiring an additional 1,060,901 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Baker Hughes during the 1st quarter worth about $44,328,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Up 0.7%

Shares of Baker Hughes stock opened at $56.70 on Friday. The firm has a market cap of $56.28 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.67 and a beta of 1.04. The stock has a 50-day simple moving average of $60.44 and a 200-day simple moving average of $61.04. Baker Hughes Company has a 52-week low of $43.92 and a 52-week high of $70.41. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Monday, July 27th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.13. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share. On average, equities research analysts expect that Baker Hughes Company will post 2.58 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, August 7th. Baker Hughes’s dividend payout ratio (DPR) is 29.68%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BKR. Wolfe Research began coverage on Baker Hughes in a research note on Wednesday, July 8th. They set an “outperform” rating and a $70.00 target price on the stock. Weiss Ratings cut shares of Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Zacks Research raised shares of Baker Hughes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price objective on shares of Baker Hughes in a research note on Tuesday, September 29th. Finally, Barclays cut their target price on shares of Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average price target of $71.41.

About Baker Hughes

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.