Pitcairn Co. Grows Stock Position in Baker Hughes (NASDAQ:BKR)

Pitcairn Co. raised its holdings in Baker Hughes (NASDAQ:BKR) by 30.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,083 shares of the company’s stock after buying an additional 2,805 shares during the quarter. Pitcairn Co.’s holdings in Baker Hughes were worth $437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Eagle Asset Management Inc. raised its position in shares of Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after buying an additional 860,219 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Baker Hughes by 63.9% during 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 acquiring an additional 780,417 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Baker Hughes in the 3rd quarter worth about $27,914,000. 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Baker Hughes by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR stock opened at $43.53 on Wednesday. The firm has a market cap of $43.07 billion, a P/E ratio of 19.52, a P/E/G ratio of 0.75 and a beta of 1.38. The firm has a fifty day moving average of $38.91 and a two-hundred day moving average of $35.81. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 1-year low of $28.32 and a 1-year 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 for the quarter, beating the consensus estimate 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 analyst estimates of $7.21 billion. During the same period in the previous year, the company earned $0.42 earnings per share. Baker Hughes’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed 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. This represents a $0.84 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Wall Street Analyst Weigh In

BKR has been the topic of several research reports. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Citigroup lifted their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Barclays increased their price target on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Susquehanna boosted their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. Finally, Benchmark reiterated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price 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.