Sumitomo Mitsui Trust Group Inc. Buys 62,718 Shares of Baker Hughes (NASDAQ:BKR)

Sumitomo Mitsui Trust Group Inc. boosted its stake in Baker Hughes (NASDAQ:BKR) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,935,988 shares of the company’s stock after acquiring an additional 62,718 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.30% of Baker Hughes worth $106,136,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in Baker Hughes in the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. bought a new stake in Baker Hughes in the first quarter valued at approximately $34,000. Alta Advisers Ltd bought a new position in shares of Baker Hughes during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC bought a new position in shares of Baker Hughes during the 2nd quarter worth approximately $48,000. Finally, Quarry LP boosted its holdings in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after buying an additional 714 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. TD Cowen increased their price target on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Stifel Nicolaus increased their price target on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Barclays increased their price target on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes Trading Down 1.4 %

NASDAQ BKR opened at $43.07 on Thursday. The firm has a market capitalization of $42.62 billion, a P/E ratio of 19.31, a PEG ratio of 0.74 and a beta of 1.38. The business has a fifty day simple moving average of $36.94 and a 200 day simple moving average of $35.01. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $44.49. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. On average, analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

Baker Hughes Profile

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.