Thompson Siegel & Walmsley LLC Trims Stake in Baker Hughes (NASDAQ:BKR)

by · The Markets Daily

Thompson Siegel & Walmsley LLC lessened its position in Baker Hughes (NASDAQ:BKR – Free Report) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 112,746 shares of the company’s stock after selling 660 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Baker Hughes were worth $4,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after purchasing an additional 4,207,973 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Baker Hughes by 7.4% during 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. Legal & General Group Plc boosted its holdings in Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after acquiring an additional 692,859 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Baker Hughes by 3.1% in the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock worth $291,005,000 after acquiring an additional 248,122 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Baker Hughes by 7.6% during the second quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after acquiring an additional 455,307 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BKR. Barclays raised their price target 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. Morgan Stanley lifted their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. UBS Group reduced their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. The Goldman Sachs Group raised their price objective on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, BMO Capital Markets increased their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $44.59.

Read Our Latest Stock Report on BKR

Baker Hughes Stock Up 1.4 %

Baker Hughes stock opened at $44.94 on Friday. The business has a fifty day moving average price of $38.33 and a 200-day moving average price of $35.52. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. The stock has a market capitalization of $44.46 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 0.72 and a beta of 1.38. 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 (NASDAQ:BKR – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. Equities research analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

About Baker Hughes

(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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