Baker Hughes (NASDAQ:BKR) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in Baker Hughes (NASDAQ:BKR) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,177,877 shares of the company’s stock after purchasing an additional 47,727 shares during the quarter. Principal Financial Group Inc.’s holdings in Baker Hughes were worth $42,580,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes during the third quarter worth approximately $30,000. True Wealth Design LLC grew its holdings in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after buying an additional 829 shares in the last quarter. Groupama Asset Managment raised its position in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after buying an additional 811,711 shares during the last quarter. Continuum Advisory LLC lifted its stake in shares of Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares in the last quarter. Finally, Alta Advisers Ltd acquired a new position in Baker Hughes during the second quarter worth about $42,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 1.3 %

BKR opened at $40.32 on Monday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17. 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 business has a fifty day simple moving average of $40.85 and a 200-day simple moving average of $36.99. The firm has a market cap of $39.90 billion, a P/E ratio of 18.08, a P/E/G ratio of 0.72 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR) last announced its 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 company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. On average, equities analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

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. This represents a $0.84 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

Analyst Ratings Changes

A number of research firms have commented on BKR. Barclays increased their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Stifel Nicolaus increased their price target on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, November 25th. Citigroup boosted their price objective on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley raised their target price on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Finally, Benchmark reiterated a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

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.