ING Groep NV Buys 41,519 Shares of Baker Hughes (NASDAQ:BKR)

ING Groep NV lifted its position in Baker Hughes (NASDAQ:BKR) by 41.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 141,315 shares of the company’s stock after purchasing an additional 41,519 shares during the quarter. ING Groep NV’s holdings in Baker Hughes were worth $5,109,000 at the end of the most recent reporting period.

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

Baker Hughes Trading Down 0.6 %

Shares of NASDAQ BKR opened at $42.94 on Friday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $44.49. The stock has a market cap of $42.49 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 0.73 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The company’s fifty day moving average is $37.48 and its 200-day moving average is $35.19.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $7.21 billion. During the same period in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. Baker Hughes’s payout ratio is 37.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BKR shares. Citigroup upped their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. UBS Group dropped their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Barclays raised 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $44.59.

Baker Hughes Company 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.