36,552 Shares in Baker Hughes (NASDAQ:BKR) Purchased by J.P. Morgan Private Wealth Advisors LLC

J.P. Morgan Private Wealth Advisors LLC bought a new stake in Baker Hughes (NASDAQ:BKRFree Report) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 36,552 shares of the company’s stock, valued at approximately $1,291,000.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Baker Hughes by 3.9% in the 2nd quarter. BlackRock Inc. now owns 94,764,470 shares of the company’s stock valued at $2,995,505,000 after purchasing an additional 3,521,762 shares in the last quarter. State Street Corp increased its holdings in shares of Baker Hughes by 0.5% in the 1st quarter. State Street Corp now owns 67,473,141 shares of the company’s stock valued at $1,947,274,000 after acquiring an additional 365,013 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Baker Hughes by 2.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 52,639,400 shares of the company’s stock valued at $1,663,931,000 after acquiring an additional 1,471,792 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Baker Hughes by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 22,218,274 shares of the company’s stock valued at $700,540,000 after acquiring an additional 827,240 shares during the last quarter. Finally, abrdn plc increased its holdings in shares of Baker Hughes by 0.5% in the 2nd quarter. abrdn plc now owns 9,608,030 shares of the company’s stock valued at $303,710,000 after acquiring an additional 46,967 shares during the last quarter. 92.22% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Trading Down 0.9 %

NASDAQ:BKR opened at $29.06 on Monday. Baker Hughes has a 1 year low of $26.12 and a 1 year high of $37.58. The stock has a market cap of $29.24 billion, a price-to-earnings ratio of 15.21 and a beta of 1.43. The business has a fifty day moving average of $31.89 and a 200-day moving average of $34.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25.

Baker Hughes (NASDAQ:BKRGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.04. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the prior year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities analysts predict that Baker Hughes will post 2.12 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th will be issued a $0.21 dividend. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, February 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.89%. Baker Hughes’s dividend payout ratio is 41.88%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BKR shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a report on Thursday, February 1st. TD Cowen boosted their price target on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Barclays lowered their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Wolfe Research downgraded Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Finally, Morgan Stanley boosted their price target on Baker Hughes from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $40.44.

Get Our Latest Report on BKR

About Baker Hughes

(Free Report)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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.

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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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