Huntington National Bank Acquires 94,014 Shares of Baker Hughes (NASDAQ:BKR)

Huntington National Bank boosted its stake in shares of Baker Hughes (NASDAQ:BKR) by 1,497.3% in the third quarter, HoldingsChannel reports. The firm owned 100,293 shares of the company’s stock after purchasing an additional 94,014 shares during the quarter. Huntington National Bank’s holdings in Baker Hughes were worth $3,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes during the 3rd quarter worth about $30,000. New Covenant Trust Company N.A. acquired a new position in Baker Hughes in the 1st quarter valued at about $34,000. Alta Advisers Ltd bought a new position in Baker Hughes in the 2nd quarter valued at about $42,000. Headlands Technologies LLC acquired a new stake in Baker Hughes during the second quarter worth approximately $48,000. Finally, Quarry LP boosted its holdings in shares of Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after acquiring an additional 714 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

NASDAQ BKR opened at $43.18 on Friday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $44.49. The firm has a market capitalization of $42.73 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 0.74 and a beta of 1.38. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The firm’s 50 day simple moving average is $37.12 and its 200 day simple moving average is $35.07.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter last year, the business posted $0.42 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BKR shares. BMO Capital Markets increased their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Stifel Nicolaus lifted their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Citigroup boosted their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. Finally, The Goldman Sachs Group raised their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.59.

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.