Baker Hughes (NASDAQ:BKR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in Baker Hughes (NASDAQ:BKR) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,174 shares of the company’s stock after selling 4,090 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Baker Hughes were worth $10,924,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bridges Investment Management Inc. boosted its stake in shares of Baker Hughes by 3.1% in the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after purchasing an additional 273 shares during the period. UMB Bank n.a. boosted its position in Baker Hughes by 18.4% in the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after buying an additional 291 shares during the last quarter. Graypoint LLC grew its stake in shares of Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after acquiring an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after acquiring an additional 398 shares in the last quarter. Finally, Guinness Atkinson Asset Management Inc increased its position in shares of Baker Hughes by 6.9% during the second quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after acquiring an additional 467 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR stock opened at $42.94 on Monday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $44.49. The stock has a market capitalization of $42.49 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 0.72 and a beta of 1.38. 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’s fifty day moving average is $37.48 and its two-hundred day moving average is $35.24.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the firm posted $0.42 EPS. Baker Hughes’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts predict that Baker Hughes will post 2.29 EPS for the current 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 issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Analysts Set New Price Targets

Several research firms have issued reports on BKR. Stifel Nicolaus lifted their price objective on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Morgan Stanley upped their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. 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. Jefferies Financial Group boosted their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes 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.