Amalgamated Bank Sells 6,585 Shares of Baker Hughes (NASDAQ:BKR)

by · The Cerbat Gem

Amalgamated Bank lessened its position in Baker Hughes (NASDAQ:BKR – Free Report) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 195,453 shares of the company’s stock after selling 6,585 shares during the period. Amalgamated Bank’s holdings in Baker Hughes were worth $7,066,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BKR. Catalyst Capital Advisors LLC boosted its stake in shares of Baker Hughes by 379.0% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,560 shares of the company’s stock valued at $165,000 after purchasing an additional 3,608 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Baker Hughes by 5.8% in the 3rd quarter. QRG Capital Management Inc. now owns 42,175 shares of the company’s stock valued at $1,525,000 after purchasing an additional 2,305 shares during the period. National Pension Service boosted its position in shares of Baker Hughes by 6.4% during the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after purchasing an additional 81,625 shares in the last quarter. Robeco Institutional Asset Management B.V. grew 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 during the period. Finally, Angeles Wealth Management LLC bought a new position in Baker Hughes in the third quarter worth $209,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Evercore ISI boosted their price target on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. TD Cowen raised their price target on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.12.

Check Out Our Latest Stock Report on Baker Hughes

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $42.74 on Thursday. The stock’s fifty day moving average is $36.26 and its 200 day moving average is $34.70. Baker Hughes has a one year low of $28.32 and a one year high of $43.23. 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 has a market cap of $42.29 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.64 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. Sell-side analysts anticipate that Baker Hughes will post 2.28 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.97%. Baker Hughes’s payout ratio is currently 37.67%.

Baker Hughes Company Profile

(Free Report)

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.

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